Cairo – Mubasher: Acrow Misr for Scaffolding and Formwork signed a five - year agreement with Arab Contractors O.A.O Nigeria limited to establish a joint company.

The agreement also included selling and marketing number of Acrow Misr’s products through Arab Contractors Nigeria, in return for selling commission of 3%.

Acrow Misr said it expects the new company to witness business volume of $1 million to $2 million at the first year.

Acrow Misr will account for 90% of the new company, while Arab Contractors will hold a stake of 10%.

The initial capital of the new company will be $100,000 and to be up graded thereafter.