Darat Jordan Holdings, a leading investment group, has announced a strategic alliance with Al Asalah Electromechanics, the sole agent of LG’s commercial air conditioning systems in Jordan.

Darat Jordan Holdings said it had recently acquired a 53 per cent stake in Al Asalah.

In accordance with this alliance, Darat will provide Al Asalah with financial support, re-structuring services and marketing services, said a company statement.

Darat Jordan Holdings CEO Dr Khaled Al Wazani said the company had a policy that relied on diversified investments, through which it sought to decrease risks and diversify capital.

He pointed out that although Darat was established in 2008, it now runs five companies, four trademarks, and invests in two projects. Al Asalah is a good investment for Darat because of its long experience in the Jordanian market and the excellent technical know-how that Al Asalah team has,' he remarked.

Al Wazani was speaking at a meeting in the presence of  Kevin Cha, managing director of LG Eectronics Levant, Issam Samara, general manager of Al Asalah and the members of Darat board of directors.

Commenting on the alliance, Samarah said: 'We, at Asalah, are proud to enter such alliance with Darat Jordan, a model of investors with its diversified investments and the high quality consultancy services that it provides to its clients and now providing to Al Asalah.'

“We are also grateful to all our partners, and above all, LG Electronics, since our partnership marked our Company’s position in the Jordanian market, thanks to LG’s innovations and smart technologies,” he added.-TradeArabia News Service