The Saudi Paper Manufacturing Company announces a number of fundamental developments related to the purpose of developing the company and improving its performance
|Announcement Detail||The Saudi Paper Manufacturing Company would like to announce the latest developments including the company's announcement on the Tadawul website on 11/19/2020 AD regarding the issuance prospectus to increase the capital in order to develop the company and improve its performance. Quotations were obtained for the second machine from major international specialized companies. In this field, technical comparisons are currently being completed, and it is expected that the Memorandum of Understanding will be signed during the next three months, God willing, to increase production capacity by 30 thousand tons annually, and with regard to the Roots Factory in Kuwait, the company has established a new production unit for the final product with a production capacity estimated at 350 tons per month and the company has started the initial experiments to run gradually and it is expected that the start of production at full capacity will be in the third quarter of 2021, and this will have a positive impact on the company's results.|
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