MEPCO board approves start of liquidation process for wholly owned subsidiary

21/11/2021 Argaam

Logo of Middle East Paper Co.

Middle East Paper Co.’s (MEPCO) board of directors approved today, Nov. 21, to start liquidation procedures of its wholly owned subsidiary, Special Achievements Co. LLC, with a capital of SAR 100,000, the company said in a bourse filing.

 

The statement clarified that Special Achievements no longer serves any legal or commercial purpose in the group.

 

Waste Collection & Recycling Co. Ltd. (WASCO) will carry out all related operations.

 

MEPCO will appoint a certified liquidator to conduct the company's liquidation process.

 

The liquidation process will not have any financial impact, the statement noted.

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