Saudi Chemical extends MoU with Hellmann Worldwide for 90 days

Logo of Saudi Chemical Co.

Saudi Chemical Co. extended by 90 days the exclusive memorandum of understanding (MoU) signed with Hellmann Worldwide Logistics to form a joint venture (JV) for logistic services, the firm said in a statement to Tadawul today, June 15.

The extension is aimed at giving the team sufficient time to finalize procedures for collaboration, in line with all the previously agreed terms and conditions.

Any future developments will be announced in due course, the statement said.

In March, Saudi Chemical announced the signing of the MoU through its pharmaceutical subsidiaries, represented by Saudi International Trading Co. Ltd. (SITCO Pharma), AJA Pharmaceutical Industries Ltd. (AJA Pharma), and Chemical Commercial Investment Co. Ltd. (CCCI), Argaam reported.

The JV aims to provide transportation, loading, unloading, warehousing, and distribution as per the highest standards of quality, safety, and security.