CHICAGO, Feb. 23 (UPI) -- Ace Hardware Corp. said Monday it plans to open six stores in Libya during the next 10 years, beginning with two stores this year in Tripoli.
The retail cooperative, based in Oak Brook, Ill., said it had agreed to terms of a license agreement with Technology Corner, a consortium of Libyan business interests, Crain's Chicago Business said Monday.
Technology Corner Director Hasan Zayed issued a statement saying he hopes to "bring a new approach to home improvement retailing to Libya in a convenient and effective format."
The stores would be the first free-standing hardware outlets in Libya, Crain's said.
Ace Hardware has 4,600 stores worldwide, including operations in Kuwait, Saudi Arabia and United Arab Emirates.