Saudi Arabia’s Mayar Holding Company said on Wednesday it has signed a contract with an Iraqi firm to market and maintain its elevator products in the Arab country.

In a disclosure statement on Tadawul, Mayar said its Gulf Elevators and Escalators Company (GEEC) signed the deal with Iraq’s MidPoint Co ltd.

Under the three-year contract, MidPoint will “market, sell, install and maintain” GEEC products in Iraq, Mayar said, adding that the deal has no specific value and that it would have a long-term positive financial impact on Mayar starting from 2024.

(Writing  by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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