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First Milling Company Announces the Start of Operation of its Mill-C in Jeddah Plant After Completing an Expansion to Increase its Production Capacity
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| Announcement Detail | First Milling Company is pleased to announce the launch of operations of its (Mill – C) in Jeddah Plant, along with the completion of its modernization as outlined in the prospectus. As anticipated, all relevant enhancements have been finalized by the end of the fourth quarter of 2023. This expansion is a direct outcome of the Company’s initiatives to enhance production capacity and solidify its leading position in the market. The upgrade of (Mill – C) will elevate the mill’s production capacity from 300 tons/day to 550 tons/day, consequently raising the production capacity ceiling in Jeddah Plant, the Company’s largest Facility in terms of daily production capacity, to reach 2,500 tons/day. The financial effects of this expansion are anticipated to be reflected in the Company’s financial performance for the first quarter of 2024G. For any further inquiries, please contact the Investors Relations Department at the email: IR@firstmills.com |
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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