First Mills establishes new subsidiary

17/03/2024 Argaam
Logo ofFirst Mills

Logo of First Mills

First Milling Co. (First Mills) established a wholly owned subsidiary—First Food Supply Co. Ltd.—with the aim of supporting the company’s business growth and strategic goals.

 

In a statement on Tadawul, First Mills pointed out that the Jeddah-headquartered subsidiary has a capital of SAR 100,000.

 

It indicated that the subsidiary operates in trade and investment in the manufacture of bakery, grain mill, and starch products, in addition to the manufacture of pasta, pasta strips, couscous and similar starchy products.

 

Moreover, its activities include storage and land transportation of goods, the wholesale trade of agricultural raw materials and live animals, in addition to wholesale sale of food and beverages, other types of retail sale in specialized and non-specialized stores, as well as packaging.

 

A positive impact is expected on the company’s results and business in 2025, after the start of commercial operations, the statement added.

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