Saudi Vitrified Clay Pipes Co. Announces an update on announces signing a Memorandum of Understanding with Doha Concrete Molds Factory Co -Qatar

Wednesday, 16 October 2024

Element ListExplanation
Previous Announcement announces signing a Memorandum of Understanding with Doha Concrete Molds Factory Co -Qatar
Date of Previous Announcement on Saudi Exchange’s Website 2024-02-14 Corresponding to 1445-08-04
Hyperlink to the Previous Announcement on the Saudi Exchange Website Click Here
Latest Developments Of The Announced Event The Saudi Vitrified Clay Pipe Co. ("SVCP") announces the signing of a partnership agreement with Doha Concrete Molds Factory Co. in Qatar ("Doha Factory") today, Monday 12-08-2024, under which Doha Concrete Molds Factory Co. -Qatar will become a partner in Saudi Land Factory Company for Cement Products ("Saudi Land Factory") with a percentage of 45%, noting that SVCP fully acquired Saudi Land Factory on March 20, 2024. Doha Factory will pay for its shares by transferring the production lines of its Doha Concrete Molds Factory Co. plant to the ownership of Saudi Land Factory. The ownership of the Saudi Land Factory after the partnership will be 55% for the SVCP and 45% for the Doha Factory.
The costs associated with the event, and if they have changed or not with indication of the reasons. No change in event-related costs

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