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Service Equipment Co. Announces Contract Sign Off with Ravaglioli S.p.A – Italy, a subsidiary of Vehicle Service Group (VSG),
| Element List | Explanation |
|---|---|
| Introduction | Service Equipment Company announces the signing of an exclusive distribution agreement with Ravaglioli S.p.A – Italy, the owner of the RAVAGLIOLI brand, as part of the Company’s expansion strategy to strengthen its presence in the Saudi market. |
| Date of Announcement of the Award | 2026-02-16 Corresponding to 1447-08-28 |
| Contract Subject Matter | Under this agreement, Service Equipment Company has been granted exclusive distribution rights for RAVAGLIOLI products within the Kingdom of Saudi Arabia. The agreement covers a comprehensive range of vehicle service and maintenance equipment, |
| The Entity with Which the Contract was Signed | Ravaglioli S.p.A – Italy, a subsidiary of Vehicle Service Group (VSG), |
| Date of Signing the Contract | 2026-02-16 Corresponding to 1447-08-28 |
| Contract Value | The value of the agreement is contingent upon the volume and value of products purchased during agreement term. |
| Contract Details | Under this agreement, Service Equipment Company has been granted exclusive distribution rights for RAVAGLIOLI products within the Kingdom of Saudi Arabia. The agreement covers a comprehensive range of vehicle service and maintenance equipment, including: • Vehicle Lifts • Wheel Balancing Machines • Wheel Alignment Systems • Vehicle Inspection Lines • Tire and Wheel Service Equipment • Other Vehicle Service-Related Solutions |
| Contract Duration | Three years, starting from the date of signing the agreement. |
| Financial Impact and the Relevant Period | The positive financial impact of the agreement is expected to be reflected during agreement term, subject to the volume of products sold under the agreement. |
| Related Parties | N/A |
| Additional Information | This agreement aligns with the Company’s strategy to enhance its product portfolio by partnering with a leading European manufacturer of vehicle lifting and service equipment, thereby supporting business growth and strengthening its competitive position in the Saudi automotive service equipment market. |
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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