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Zicom Electronic Security Systems Ltd Enters Into Memorandum of Understanding With ASYAD Holdings LLc And Advanced Triad Turbine Services Co. Ltd; Announces Sale Of CNA Automation Limited
Zicom Electronic Security Systems Ltd announced that the Board of Director has approved to enter into Memorandum of Understanding (MOU) by the Company and its subsidiary Unisafe Fire Protection Specialists LLC, Dubai with ASYAD Holdings LLc and Advanced Triad Turbine Services Co. Ltd. (both belonging to ASYAD Group of Saudi Arabia). The MOU is mainly targeted to ASYAD Group projects and to jointly develop and target party projects in Saudi Arabia and also provides for setting up of Joint Venture Company in Saudi Arabia. The Board of Director also approved to sell of Zicom CNA Automation Limited , a non operative wholly owned subsidiary of the Company.
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