TEHRAN -- Managing Director of Iran tractor Manufacturing Company Mohsen Khadem Arab-Baghi said here on Monday that his company has won golden statue of the Commercial Credit and Quality Festival in Lebanon.

Arab-Baghi told IRNA that the festival was held in Beirut, Lebanon, from June 7-9.

He said the panel of jury at the festival represented a committee, comprising experts assigned by the international center of consultation and research, known as "Other Ways".

The official said the committee usually awards companies which have global reputation or produce high quality products.

He said customer's satisfaction, better management, constant training and uninterrupted business activities, and acquisition of the ISO 9000 and TQM certificates are among prerequisites set by the committee to be named model company.

He added that 120 leading businessmen and traders, researchers and cultural, political and economic personalities as well as representatives from 52 well-credited companies took part in the festival.

Arab-Baghi said the objective of the festival was to build contacts among well-credited global companies and to market goods.

Iran Tractor Manufacturing Company is the biggest in the Middle East. It exported $12 million worth of its tractors and variety of spare parts. It is set to produce 15,000 tractors as of this year.