Iran’s MAPNA Group and the Austrian generator manufacturer Elin Motoren signed a memorandum of understanding on March 31, 2016 in Vienna, Austria.
MAPNA Strategic Planning & Control Vice President Alireza Yazdizadeh and Elin Motoren Managing Director Gustav Hauschka signed the MoU on behalf of the two companies.
During the event, which took place in the Austrian chamber of commerce in Vienna, eight cooperation agreements were signed by the Iranian Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) and the Austrian chamber of commerce with a total value of 2 billion euros.
The deals cover a wide range of fields, including technology transfer between Iranian and Austrian companies. MAPNA’s negotiations with Elin Motoren focused on technology transfer for domestic manufacturing of constant and variable speed drive electric motors.
The agreement is another step in realization of MAPNA’s mission to expand international ties and diversify businesses and products.