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News - Financial

Defense Engineering Industry Corporation (DEIC) to take-over two industrial complexes previously under the Ethio Engineering Group (EEG)

May 14, 2025
Defense Engineering Industry Corporation (DEIC) to take-over two industrial complexes previously under the Ethio Engineering Group (EEG)
  • DEIC to take control of Bishoftu Automotive Engineering Industry and High Tech Engineering, both of which were previously under EEG.
  • When the Council of Ministers established the Corporation in 2020, the rights and obligations belonging to Gafat Armament, Homicho Ammunition, Dejen Aviation Engineering Industries, and a fuel and propellant processor were transferred to it.