Amman, January 2021: In alignment with its growth and diversification strategy, OFFTEC Holding Group (OHG) has recently acquired 100 percent of World Axis Trading Company (WATCO) for high-end architectural lighting products.
The deal comes more than two years after OHG purchased 60 percent of WATCO shares - enabling it at the time to enter a new business line that served its goal of expanding its network both in Jordan and beyond.
“WATCO has managed to expertly combine great technology with knowledgeable professionals to deliver innovative products and services that cater to client preferences and expectations. Investing in an established company like WATCO is a testament to the existing and potential opportunities we see in the company. With WATCO now wholly-owned under our umbrella, we look forward to continuing to present local and regional clients from various sectors with modern lighting and automation solutions for the long-term benefit of our clients and shareholders alike.” commented OHG CEO, Basim Said.
About OFFTEC Holding Group
OFFTEC Holding Group PLC (OHG) is a public shareholding company listed on the Amman Stock Exchange (ASE) as (OFTC) with a total capital of JOD 39.6 million. The leading regional company owns four subsidiaries: OFFTEC, offering services and innovated solutions in business and technology; ePoints, a leading customer reward platform; Alwasleh, providing convenient leasing and financing solutions; and WATCO, specializing in lighting solutions and high-end architectural lighting products. All solutions extended by the OFFTEC Holding Group are specifically designed to create sustainable value for clients, partners, suppliers and stakeholders alike.