Meyar purchases factory worth SAR 3.3 mln

12/09/2023 Argaam

Meyar purchases factory worth SAR 3.3 mln

Logo of Meyar Co.

Meyar Co. concluded on Sept. 11 an agreement to purchase a factory worth SAR 3.3 million (VAT inclusive) in the north of Riyadh, the company said in a statement to Tadawul.

 

The purchased facility is a cement and ready-mix concrete product factory in Malham, the north of Riyadh, the statement added, noting that the deal will be financed from the company’s own resources. 

 

The transaction aims to increase production and expand into target markets through sales in Riyadh. 

 

The relevant financial impact is expected to appear in 2024, according to the statement. There are no related parties to the agreement. 

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