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Electrical Industries Co. Announces Contract Sign Off with ENEDIS Company
1303
EIC
0.52
%
1447/07/30 19/01/2026 15:39:54
| Element List | Explanation |
|---|---|
| Introduction | Electrical Industries Co. announces that one of its subsidiaries (Pauwels Transformers Co. Belgium) has signed a Framework Agreement with ENEDIS Co., the main Electricity Distribution Network Operator in France. |
| Date of Announcement of the Award | 2026-01-19 Corresponding to 1447-07-30 |
| Contract Subject Matter | Supply Power Transformers to the French Electricity Distribution Network. |
| The Entity with Which the Contract was Signed | ENEDIS Company |
| Date of Signing the Contract | 2026-01-19 Corresponding to 1447-07-30 |
| Contract Value | Approximately SAR 150.4 million ( Execulding VAT). |
| Contract Details | Design, Manufacture and Supply Power Transformers to the French Electricity Distribution Network |
| Contract Duration | Five (5) years with options to extend for up to three (3) additional years (through 2033). |
| Financial Impact and the Relevant Period | The contract is expected to have a positive financial impact on the Company results starting from year 2027. |
| Related Parties | None |
| Additional Information | This contract confirms the strategic position of EIC in the European market. Noting that the Transformers will be designed and manufactured at Pauwels transformers factory in Mechelen, Belgium. The contract includes a price variation clause to protect the company against fluctuations in raw material costs. The total contract value may reach approximately SAR 227.3 million, if all optional extension periods are exercised. |
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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