Home Page >> LOCAL NEWS 27 October 2015, Tuesday 13:15
KIB-TEK seizes 222,050 Euro collateral of LED lighting company
KIB-TEK has seized 222,050 Euro collateral of the company responsible for supplying the 45,000 LED street lighting fixtures because they did not supply them on the date specified.

A statement from KIB-TEK, said that the tendering process had been carried clearly and unbiased and the board had signed a contract with the company. All their contracts until now had been ones in which the customers would not be negatively affected and the organisation would not be left in debt.

The company in question however did not deliver on the agreed date and therefore their collateral was seized. KIB-TEK had signed a deal worth 4 million 441,000 Euro. Now the company will be unable to take part in the tenders for a year.

Add a comment     Share Share/Bookmark    
increase font size decrease font size print this page tell a friend Add a comment (0)

Paphos bank robbers’ getaway car located
Police have located the vehicle used by the perpetrators of the robbery at the Timi branch of the Yeroskipou co-bank in Paphos.
Kiosk owner caught with 39 cartons of contraband cigarettes
A Greek Cypriot kiosk owner was arrested by police on Monday for the possession of 39 cartons of contraband cigarettes with customs duties valued at €1,373.
EU informs of intentions to file objections on halloumi PDO application
European Commission informed Cyprus about three intentions to file objections on its application to file halloumi as a product with protected designation of origin (PDO), while at least another one is expected accordi...