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Advanced Technology inks KWD 4m deals with ministry, university

Advanced Technology inks KWD 4m deals with ministry, university
The automation system will connect blood bank centres with the ministry
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Mubasher: Advanced Technology Company (ATC) announced the signing of tender contracts totalling KWD 3.7 million with a ministry and a university in Kuwait.

The company has inked a tender contract worth KWD 1.41 million with the Kuwaiti Ministry of Health to supply and install devices and an automation system to connect secondary blood bank centres with the ministry's headquarters.

The contract carries a maturity period of three years and three months, according to a bourse statement on Sunday.

Additionally, the medical company penned another contract of KWD 2.36 million with Kuwait University to provide technical and nursing labour to the faculty of dentistry.   

The deal will be matured in three years. 

The transactions’ financial impact will reflect on the income statement as of the third quarter (Q3) of this year as the projects start, the company said, expecting a profit margin of 3% for each contract, noting that such percentage is not fixed and is subject to change as per labour supply stages, the implementation period, as well as the actual results.