The Assouad Group is the result of three generations of entrepreneurship in the Assouad family. First, George Assouad opened a very successful contracting business in Egypt in the late 1800s. Then, after designing and executing most of the famous arteries, boulevards, and public buildings of Damascus, Philippe Assouad created Tecmo (technique du moyen-orient), a consulting bureau, in 1961. Elias Assouad then turned the company into an industrial giant in the 1970s. Here are the main highlights:

Tecmo becomes an industrial giant, specialized in industrial refrigeration, HVAC, steel structures, aluminum structures, packaging and trading of industrial goods.
- It is the first to introduce vacuum packing in Lebanon
- the first to introduce colored aluminum for windows, bays, and shutters as well as sophisticated forms execution
- It became a regional leader in industrial refrigeration
- In 1978, Elias Assouad creates Mecanix, a steel structure producer, and the first Tecmo spin-off

While Dunkin Donuts becomes the leading coffee shop franchise in Lebanon with 30 outlets, the Assouad Group is re-organized around 5 major companies:

• An industrial company: Tecmo
• A consulting company: Cedra Engineering
• A distribution and sales company: Mecanix Shops
• A food company: Meeting Point
• A real-estate company: L’Immobiliere Assouad
• The Assouad Group relinquishes its controlling interest in Mecanix sal, a steel structure producer, which is no longer a member of the group