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New subsidiary
UAE's Arabtec opens a Lebanon-based affiliate
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“To increase our chances of securing work in Lebanon, the board approved the immediate establishment of a subsidiary in Lebanon,” the company said in a statement.

UAE-based Arabtec is a publicly listed company that invests in the contracting sector. It operates a number of subsidiaries that are engaged in construction services.

Its net profits dropped 32 percent to $139 million in the first nine months of 2009. 

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Date Posted: Dec 15, 2009