14th Apr 2014 08:22
LONDON (Alliance News) - Mortice Ltd said Monday its subsidiary, Tenon Property Services Private Limited, has signed a joint venture agreement with Tanami Holding Co., to provide Tenon the opportunity to service clients in the Middle-East.
The facilities, property and project management firm has signed the deal with Tanami, a Saudi Arabian multinational with investments in construction, real estate, engineering services, steel and aluminum fabrication and utilities.
The new joint venture will provide Tenon with the opportunity to service clients in the Middle-East, said Mortice. Tanami has a strong local presence and will be supplemented by Tenon's delivery support.
Tanami will initially provide its own facility to be managed by the joint venture and will provide strategic support in terms of relationship and business development to achieve faster growth.
Shares in Mortice last traded at 48.5 pence per share.
By Alice Attwood; [email protected]; @AliceAtAlliance
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
MORT.L