Dr. Ghassan Al-Shibl, AEC President & CEO, Uberto Canaccini, CEG Elettronica CEO, and Francesco Costanzo, ICT Europe CEO, pose for a photo op after the signing of agreement on power conversion technology. The signing was attended by officials from the three companies. — Courtesy photo. RIYADH — Advanced Electronics Company (AEC) of Saudi Arabia said on Thursday that it has signed a memorandum of understanding (MoU) with with ICT Europe and CEG Elettronica Industriale S.p.A. of Italy to provide customers with a range of power conversion solutions, including uninterruptible power supplies and battery chargers. “We have built-up substantial experience in power systems, over the decades, in support of our value chain. A collaboration with CEG Elettronica, as a leading technology provider, will boost our Saudi-made engineering solutions offerings. The product range includes un-interruptible power suppliers, industrial battery chargers and converters.” said Dr. Ghassan Al-Shibl, AEC President & CEO. “CEG Elettronica offers significant experience in the power conversion arena and is a key supplier to the region. We are committed to delivering advanced power conversion technologies to the oil and gas, petrochemical, utilities and other industrial sectors. This collaboration will certainly bring us closer to our customers in the region.” said Uberto Canaccini, CEG Elettronica CEO. Francesco Costanzo, ICT Europe CEO, said “As a financial advisor and co-developer of business, we bridge the technology gaps that exist in the Saudi market. We create A+ investment opportunities by teaming up with leading international technology companies, such as our strategic partner AEC and technology company as CEG Elettronica. We are keen on transfer technology to the Kingdom of Saudi Arabia through credible local partners.” The MoU was signed at the AEC Riyadh headquarters at King Khalid International Airport Industrial Estate. Senior management officials from AEC, CEG and ICT Europe attended the signing ceremony. AEC, established in 1988, is an offset program company and is a leading provider of technology products and services to the regional utility sector. The company has also become a recognized regional pioneer in the innovation, development and manufacturing of advanced electronics, serving the military, telecom and industrial sectors. As a gateway to highly specialized services and opportunities, AEC offers local access to world-class engineering, manufacturing, repair, maintenance, system integration and complete solution capabilities at its facilities, as well as easy and rapid access to other regional markets, customers and distribution networks. — SG
