WASHINGTON -- IFC, a member of the World Bank Group, announced that it will acquire 19% of the Fuba Printed Circuits Tunisie S.A. stock.
Slim Sellami, Fuba’s CEO, said, “We are grateful for IFC’s support. It shows trust in our ambitious growth strategy.”
“IFC’s partnership with Fuba will have a strong impact in the country by enhancing the technological competitiveness of a key Tunisian export player, creating job opportunities for university graduates and improving environmental and social standards as well as corporate governance,” said Dimitris Tsitsiragos, IFC Director for Global Manufacturing and Services.
IFC’s has not invested in the Tunisian manufacturing sector in over 10 years.
PHILADELPHIA -- Rohm and Haas second-quarter earnings fell to $147 million, or 75 cents a share, from $161 million in the same period a year ago.
At the same time, sales rose 17% to $2.57 billion from $2.19 billion a year earlier. The increase in revenue was attributed to strong growth in the electronic materials and chemical businesses outside North America.