Egypt - Elsewedy Electric completed the acquisition of 95% of PT GG Power Indonesia, a company that manufactures electric power in Indonesia, amounting to 10,000 megawatts, according to the company's statement filed to the Egyptian Exchange.

The company provides maintenance services over the life of the transformers in addition to the establishment of transformer substations.

The company is known to export its products to multiple countries in the region, including; Malaysia, New Zealand, Australia, Vietnam, and the Philippines.

Elsewedy Electric also will acquire 100% of Validus Engineering PVT LTD, the manufacturer of power transformers in Pakistan.

These latest additions will bring Elsewedy Electric’s total transformer factories to six and will more than double the annual production capacity to 30,000 MVA.

The listed company will distribute annual cash dividends of EGP 0.40 per share on May 24th.

The listed company is a provider of integrated energy solutions in Africa and the Middle East, and a manufacturer of cables and meters, especially smart meters. It has a portfolio incorporating all traditional and renewable energy areas along with related services.

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