UAE, Dubai: The investment bank Arqaam Capital has announced that it successfully completed the private placement of Federal Transformers Company (FTC) and Federal Power Transformers (FPT), Abu Dhabi-based manufacturers of distribution and power transformers.

Two transformer plants successfully complete private placement

UAE, Dubai: The investment bank Arqaam Capital has announced that it successfully completed the private placement of Federal Transformers Company (FTC) and Federal Power Transformers (FPT), Abu Dhabi-based manufacturers of distribution and power transformers.

The company that invested into the two transformer plants is The Zubair Corporation, Omani company with expertise in energy and engineering, construction and contracting services, reports Zawya.

C. S. Badrinath, CEO of The Zubair Corporation, said: “The investment made in FTC and FPT provides us with a high quality manufacturing platform with a recognized brand and access to significant intellectual property. This cross-border transaction strengthens the cooperation and economic ties between GCC countries as well as our commitment to our strategic goal of becoming a leading player in the GCC transformer market.”

Source: Zawya