TADCO ready to acquire stake in flour, fodder producer

26/11/2018 Argaam

 

Tabuk Agricultural Development Co. (TADCO) said plans are afoot to acquire a 60 percent stake in newly-established, flour and fodder producer, The Flour Mills Co.

 

The new company will produce premium flour and combined fodder, and will be 60 percent owned by Tadco. Remaining percentage is retained by the founder: Ahmed Hussein Ahmed Al Amri Foundation.

 

Tadco engaged into a SAR 1.25 million contract to establish the new company with Ahmed Al Amri Foundation, and signed definitive agreement last February. It named representatives on the new company’s board recently.

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