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Arab Company for Antibiotics Industry (ACAI)/ Republic of Iraq

ACDIMA owns 25.66% of the authorized capital and 34.06% of the paid-up capital of this company, estimated at IQD 30,000,000 (based on the exchange rate of the Iraqi currency (Dinar) in the establishment year: IQD 1 = USD 3,224). In 2014, ACAI’s sales amounted to IQD 18.1 Billion, equivalent to KWD 4.64 million, with 11.1% decrease as against the previous year. In addition, ACAI losses in the same year totaled IQD 2.71 Billion, equivalent to KWD 694 thousand, with a loss decrement at 63% as compared to the losses of 2013.