Maadaniyah issues commercial register for Fair National Casting

30/08/2023 Argaam
Logo ofNational Metal Manufacturing and Casting Co. (Maadaniyah)

Logo of National Metal Manufacturing and Casting Co. (Maadaniyah)

National Metal Manufacturing and Casting Co. (Maadaniyah) issued the memorandum of association and commercial register for its Dammam-based subsidiary, Fair National Casting Co. Ltd., according to a Tadawul statement today, Aug. 30.

 

The company will operate with SAR 7.5 million capital, of which Maadaniyah will own 51%, while IGL Group will hold the remaining 49% stake.

 

Any further material information will be disclosed in due course.

 

In February 2021, Maadaniyah signed a memorandum of understanding (MoU) with IGL Group to establish an aluminum foundry plant, Argaam reported earlier.

 

The two companies renewed the MoU several times, the last of which was in March.

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