Tuesday, Jun 07, 2011
LONDON (Zawya Dow Jones)--Qatari conglomerate Aamal Co. (AHCS.DO) said Tuesday it has signed a joint venture agreement with Johnson Controls Inc. (JCI) to set up a sustainable energy firm in the Gulf Arab state.
Johnson Controls Qatar, owned 51% by Aamal and 49% by Johnson, "will provide facility improvement and energy solutions" in the Persian Gulf country, Aamal said in an emailed statement.
Aamal last month upped its free float to around 24% by offering global depositary receipts in London.
Johnson is involved with over 500 renewable projects worldwide and part of its business aims to improve the energy efficiency of buildings.
-By Alex Delmar-Morgan, Dow Jones Newswires; +974 6659 9818; alex.delmar-morgan@dowjones.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
07-06-11 1126GMT
