| Element List |
Explanation |
| Introduction |
Bawan Co. announces the signing of an MOU to manufacture Medium Voltage Switchgears between one of its subsidiaries, United Technology for Electric Substations & Switchgears (UTEC) and Schneider Electric the global leader of Energy Solutions & Sustainability. This agreement reflects the continuous cooperation between booth parties in relation to boosting the local content of electrical products manufacturing, also confirms the long-term strategy of United Technology for Electric Substations & Switchgears Co. to provide its customers with complete innovative solutions. |
| Memorandum Signing Date |
2023-06-13 Corresponding to 1444-11-24 |
| Counterparty |
Schneider Electric Co. |
| Memorandum Subject |
MOU to manufacture Medium Voltage Switchgears |
| Memorandum Duration |
One Year and renewed automatically for a similar period |
| Related Parties |
N/A |
| Financial Impact |
The positive financial impact of the MoU is expected to appear starting from the second quarter of 2024 |
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