Cairo – Mubasher: The International Company for Trade, Marketing, and Commercial Agencies (ITAMCO), a subsidiary of GB Corp, has signed an agreement with Helwan Company for Machinery and Equipment (999 military factory) to assemble and manufacture light vehicle branded “Qute”.

Chairman of ITAMCO Ghassan Kabban stated that his company has an agreement with India’s BAJAJ Auto to for the assembly of Qute, according to a press release.

Kabban expressed that cooperation with the Egyptian Ministry of Military Production will be promising.

It is worth noting that GB Corp posted consolidated net profits of EGP 626.33 million in the first quarter (Q1) of 2024, an annual surge from EGP 107.69 million.