FEP Holdings chief executive Maurice Korir. FILE PHOTO | NMG
Fountain Technologies Ltd (FTL) has
inked a deal with Ferri Group, a Luxembourg-based energy installations
company, which will see the companies jointly bid and tender for big
ticket industrial and electrical projects.
FTL said the alliance will enable them to jointly pursue and develop energy infrastructure projects in the region.
“Through
this alliance, we intend to capitalise on existing sales networks and
marketing for the distribution of Ferri Group and FTL product lines, as
well as increase access to international lines of credit with reputable,
global financial services providers,” said Maurice Korir, the
investment group FEP Holdings chief executive officer.
FTL
is a subsidiary of FEP. This will be done under a profit-share
agreement on a project-by-project basis for any amounts up to $100
million (Sh10.3 billion) per transaction, with an option for Ferri Group
to acquire minority equity stake of about 30 per cent in FTL within two
years.
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