Saudi Paper halts production at two lines

Saudi Paper Manufacturing Co. (SPMC) has temporarily suspended its deinking plant number (1) and production line (2), in order to cut costs and losses resulting from low utilization, the company said in a statement to Tadawul on Sunday.

The suspension is not expected to have a significant impact on future financial results, Saudi Paper said.

The company will conduct maintenance work on the production lines during the suspension period, the statement added.