Rubis takes over the producer of iranian bitumen FCG

© Reuters. Rubis takes over the producer of iranian bitumen FCG

PARIS (Reuters) – Ruby Friday announced the acquisition of the iranian company, FCG, active in the fields of production, storage and export of bitumen.

This purchase is intended to secure the supply of Rubies in bitumen in order to accelerate its development in India and in East Africa, where the French operator of the energy sector intends to develop.

“This operation is part of the strategy of Ruby to secure a resource-competitive product and quality, while expanding its offering bitumen segments, barrels, containers, and small bulk, in order to position itself on new markets,” he wrote in a press release.

“With this objective in mind, Ruby intends to spend nearly 100 million euros of investment over the next two years.”

The amount of the transaction has not been disclosed.

(Dominique Rodriguez, edited by Gwénaëlle Barzic) OLFRBUS Reuters France Online Report Business News 20180112T175240+0000

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