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Libya | Malta's biggest exporters [FULL DATA]
Over 228 Maltese registered companies have been trading with Libya with a total export value of €90 million.
25 April 2011, 12:00am
FULL DATA below - Source: House of Representatives They range from electronics, food, beverage catering, clothing, bridal wear, textile, home and office furniture, lighting, haulage companies, safety equipment, communications, printing, pools, exporters of mattresses, pharmaceuticals, construction and more. The most effected companies include: • Medelec Switchgear Ltd – a joint venture company based in Malta and Tripoli. Set up in 1977, it is an assembly plant for distribution switchgear and transformers under licence from GEC of England. Their exportation value is at €36,434,117. • Mediterranean Power Electric Co Ltd – set up in 1977 as joint venture between Maltese, Libyan and British parties for fabrication of Low Voltage Switchgear. Its exportation value stands at €5,274,066. • Oiltanking – owns and operates 71 terminals in 22 countries. Its exportation value from Malta stands at €5,175,773. • Sabratha Duty Free Company Limited – a subsidiary of Air Malta. 50% of the company is owned by Air Malta plc., whereas the other 50% is equally shared between Gebr Heinemann, Salvo Grima Group and Faber National Projects. Sabratha has been entrusted by the Tripoli International Airport Authorities to exclusively run the duty free concessions in the Passenger areas of Tripoli International Airport – €3,807,131. • Nexos & Co Ltd which specialises in lighting, street, industrial and commercial stage-lighting equipment – €3,360,882. These figures do not take into consideration the number of Maltese companies and individuals that have had direct investment in Libya. Maltese companies that have Libyan interests listed have been granted special operating licences to continue to operate. This special licence is provided in accordance with the United Nations Security Council resolution that imposes sanctions on Libyan nationals and entities. The Prime Minister has been keen to down play the impact of the Libyan crisis, but several economist have said that the real impact of the conflict will unfold later in the year. And the impact on the Maltese labour market and investments will be seen later in the year. But if the conflict extends into the year, it may have very serious and extensive repercussions.
Market commentary: Positive momentum keeps buildin...