Mubasher: Al Kout Industrial Projects on Sunday announced electing Mohamed Hussein as the new chairman, representing Afaq Educational Services, to succeed Fahd Al-Jawaan.

Moreover, Boubyan Petrochemicals Company’s representative Nawaf Arhamah has been appointed as the vice chairman, according to the company’s statement to Boursa Kuwait.

Boubyan Petrochemicals Company and Yaqoub Al-Jawaan acquire stakes of 53.70% and 23.34% in Al Kout, respectively.

During the first nine months of 2018, Al Kout reported a 9.8% drop in profits to KWD 5 million, against 5.5 million in the corresponding period in 2017.