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Advanced Technology signs KWD 3m deal with KNPC

Advanced Technology signs KWD 3m deal with KNPC
The deal could generate a profit margin of 4%
ATC
ATC
-4.10% 398.00 -17.00

Mubasher: Advanced Technology Company (ATC) has inked a deal with Kuwait National Petroleum Company (KNPC) to supply Al Zour refinery's project with laboratory equipment.  

The deal is valued at KWD 2.739 million and will be matured in a period of five months in addition to three years as a free guarantee, according to a bourse statement on Monday.        

Moreover, the transaction’s material impact will reflect on the company's income statement as of the third quarter (Q3) of 2020. 

In addition, the transaction is expected to generate a profit margin of 4%, the company noted, adding that such percentage could change according to many factors, including the stages of equipment supply and installation and the contract's execution period.