ArabFinance: GB Auto (AUTO) announced today that is has signed a joint venture agreement with vehicle distributors El Ghalban Auto Market Group to form a commercial vehicle distribution company. under the brand name TVD, the company will distribute JMC-branded Vehicles and provide after-sales service as well.

The agreement was signed by GB Auto Chief Executive Officer and Chairman Raouf Ghabbour and El Ghalban Auto Market Group Vice Chairman Mr. Mohamed El Ghalban in the presence of GB Auto Deputy Chief Executive Officer Mr. Nader Ghabbour and El Ghalban Auto Market Group Chairman Mr. Hossam Al-Ghalban.

This partnership between GB Auto and El Ghalban Auto Market Group will leverage the strength of both parties in the Egyptian vehicle distribution and after-sales spaces. This will allow us to distribute a fleet of superior quality vehicles, complement GB Auto's current commercial vehicle portfolio and offer after-sales services all at unmatched price points for consumers. The distinct capabilities of each entity are set to make the venture a success for all stakeholders," said Ghabbour.

The company will distribute a variety of JMC vehicles to meet the needs of a large cross-section of the Egyptian market due to JMC's unmatched quality, superior engine strength, functionality, and cost-competitive pricing. In addition, TVD will offer after-sales services to JMC vehicle owners through a network of sales and maintenance centers and provide spare parts for the vehicles through a distributor and authorized after-sales service centers throughout the country. The company will announce its full roster of products and services in early 2020.

For his part, El Ghalban said, "we are pleased to announce this strategic partnership with GB Auto, which will benefit from both companies to serve the Egyptian market by providing competitive products to provide better transportation solutions.

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