Saudi White Cement approves rebranding to Riyadh Cement Co.

Saudi White Cement headquarters

Saudi White Cement Co.'s shareholders approved rebranding the company to Riyadh Cement Co., a Saudi joint-stock firm, during the extraordinary general meeting (EGM) held on Dec. 28, according to the company's bourse filing.

Shareholders also approved amending the company's Articles of Association including Articles 7, 8, and 16, related to the company's capital, subscription to shares, and capital decrease, as well as Article 48 related to dividends, the statement added.

Saudi White Cement increased its capital to SAR 1.2 billion to set up Riyadh Cement Co. in 2005, as a subsidiary of Saudi White Cement, according to data compiled by Argaam. 

Riyadh Cement launched the first production line in June 2007 with a designed capacity of 5,000 tons of clinker a day. The company’s board of director decided to establish another production line at the same capacity, which started operations in March 2010. The cement producer then increased both lines’ capacities from 5,000 tons to 5,500 tons a day.