IssuerAnnouncementDetailsV2Portlet
Mayar Holding Company announces that one of its subsidiaries, NewPlast Co., has signed a two-year memorandum of understanding with Avant Sports.
Element List | Explanation |
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Introduction | Mayar Holding Company announces that one of its subsidiaries, NewPlast Co., has signed a Memorandum of Understanding with Avant Sports, a Chinese company, on June 19, 2025. NewPlast Co. will manufacture plastic chairs for sports stadiums according to various specifications and in accordance with international and FIFA standards. |
Memorandum Signing Date | 2025-06-19 Corresponding to 1446-12-23 |
Counterparty | Avant Sports |
Memorandum Subject | Mayar Holding Company, through its subsidiary, NewPlast Co., a leading manufacturer of plastic products, manufactures plastic chairs for sports stadiums within a strategic framework and according to international standards and the approved FIFA standards. |
Memorandum Duration | Two years. |
Related Parties | N/A |
Financial Impact | The financial impact of this will be positive in the long term. |
Additional Information | The agreement aims to produce these products at the company's factory in Riyadh according to international stadium standards, with high quality, durability, and comfort. This step comes within the framework of the company's efforts to support development projects in the Kingdom and contribute to achieving the goals of Vision 2030 in localizing specialized industries, such as the manufacture of products for the sports and stadium sectors. Avant Sports is a leading manufacturer of sports stadium chairs. |
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.