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Middle East Paper Co. announces that it has received a notification that the price of fuel products used in production have been increased.
| Element List | Explanation |
|---|---|
| Announcement Detail | Middle East Paper Co. would like to announce that it received a notification from Saudi Arabian oil company (Saudi Aramco) that it would increase fuel products prices starting from 01/01/2024. The expected financial impact will be an increase of approximately 3% of the total annual sales cost, according to the company’s latest audited annual financial statements. This impact will appear starting from the first quarter of the financial year 2024 AD. The company continues to enhance its business efficiency and operate in a responsible and sustainable manner by investing in the development of production technologies and products, whilst maximizing the use of the Unique competitive infrastructure available in the Kingdom to achieve its strategic objectives. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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