Saudi Vitrified Pipes restarts halted kilns as demand picks up

10/04/2017 Argaam

Saudi Vitrified Clay Pipes Co. (SVCP) said it will restart the kilns in its Riyadh plants from today due to a higher demand for pipes and a decrease in inventory.

 

The relevant financial impact will appear on earnings of Q2-2017, the company said in a statement to Saudi bourse, Tadawul.

 

In July last year, the company had partly halted some kilns in its Riyadh plants to cut operating expenses. The decision to halt kiln operations was in response to a lower demand for pipes due to the economic slowdown and a build-up in stocks, Argaam reported.

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