Thursday, Sep 08, 2011
BEIRUT (Zawya Dow Jones)--Kuwait's Gulf Cable and Electrical Industries Co. said Thursday it has received purchase orders worth EUR16.83 million from Italian oil and gas contractor Saipem.
Gulf Cable, in a statement posted on the Kuwait bourse website, said the orders have been approved and will be delivered within three months.
Gulf Cable, a manufacturer of cables and other related electrical products, saw its shares rise 2.6% to close at KWD1.6 in an overall positive market Thursday.
-By Shikrallah Nakhoul, Zawya Dow Jones, +961 1 985757, shikrallah@zawya.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
08-09-11 1024GMT
