Thursday, Mar 22, 2012
BEIRUT (Zawya Dow Jones)--Kuwait's Al Kout Industrial Projects has acquired Abu Dhabi's Safewater Chemicals--a manufacturer of chlor-alkali chemicals--for $15 million and is currently boosting its production capacity to 25 tons a day, Kuwait-based Al Rai daily reports Thursday, citing an executive.
The expansion, which will cost $10 million, is expected to be completed by the end of the current year, Fahad Al Jouaan, Al Kout's chairman, said, according to the paper.
Newspaper website: http://www.alraimedia.com/Article.aspx?id=337438&date=22032012
-By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; BeirutZDJ@zawya.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
22-03-12 0741GMT
