Almarai gets SAR 250 mln compensation for bakery fire​ ​

26/03/2015 Argaam

Saudi Arabia's Almarai, the Gulf's largest dairy company, said in a bourse filing on Wednesday that it received a SAR 250 million ($66.7 million) compensation from Arabian Shield Cooperative Insurance for a fire that happened at its Western Bakeries plants in Jeddah last October.

 

The payment will be recorded in first quarter financial statements, but the full extent of the claim has not yet been finalized.


Arabian Shield noted that the claim should not have any "material adverse impact" on its financial position.


Western Bakeries is a wholly owned subsidiary of Almarai.

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