Middle East Complex Plc

Middle East Complex for Engineering, Electronics & Heavy Industries PLC (MEC) is Jordan's largest producer, trader, distributor and exporter of consumer electronics (electronic home appliances) and electric home appliances in collaboration with some of the big names in global electronics industry, namely LG Electronics. MEC is the leader in theelectronics and electric appliances market in Jordan, with over 75 per cent market share. Its local sales, however, constituted about 28 per cent of its total revenues in 2005. MEC has an integrated distribution channel consisting of 45 outlets in Jordan, of which 30 are in Amman, and the balances are spread all over the country. MEC was established in 1994 after three companies-Middle East Company for Electric Industries, Middle East Company for Engineering & Electronic Industries, and Middle East Company for Manufacturing & Trading Vehicles- were merged. MEC's future growth strategy involves expanding its manufacturing capabilities to further increase locally manufactured content. By increasing the local content in the home appliances, the company is expected to significantly cut down on its imports, transportation, production and inventory costs, and improve profit margins. This will allow for more competitive pricing, a stronger position in export markets, and increased ability to penetrate new Markets. The company's shares are listed on the Amman Stock Exchange and are traded under the ticker symbol MECE.