Shaker extends MoU with LG, Investment Ministry for one year

Logo of Al Hassan Ghazi Ibrahim Shaker Co. (Shaker)

Al Hassan Ghazi Ibrahim Shaker Co. (Shaker) announced today, Feb. 19, extending a non-binding memorandum of understanding (MoU) with LG Electronics and the Saudi Ministry of Investment for the manufacturing of air conditioning (AC) compressors in Saudi Arabia.

 

In a statement to Tadawul, the company said that the MoU was extended for one year, ending Feb. 5, 2026.

 

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Any updates in this regard will be announced in a timely manner, the statement added.

 

According to data available on Argaam, Shaker signed in February 2024 a non-binding MoU with LG and the Saudi Ministry of Investment for the local manufacturing of AC compressors and their potential localization in the Kingdom.

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