Fabtech to Incorporate Step-Down Subsidiary in Egypt

Fabtech Technologies Ltd announced its Board of Directors has granted in-principle approval for the incorporation of a wholly owned step-down subsidiary in the Arab Republic of Egypt. This new entity will be established through Fabtech Technologies LLC, UAE, which is itself a wholly owned subsidiary of Fabtech Technologies Ltd. The subsidiary will focus on Turnkey Pharma Projects, including HVAC, MEP, CRP, CRE, machinery, and related activities. The incorporation is subject to regulatory approvals in Egypt and from the UAE Embassy. The equity will be subscribed in cash by Fabtech Technologies LLC at face value, resulting in Fabtech Technologies Ltd holding 100% indirectly.