The board of directors of Saudi Paper Manufacturing Co. on Wednesday approved transferring the production lines of its fully-owned subsidiary, Saudi Paper Converting Co., to Jeddah from Dammam.

 

The company expects to cut SAR 4 million in cost every year after completing the transfer, the company said in a bourse statement.

 

The transfer will be implemented in three stages; starting from the fourth quarter of 2016 and will continue for six months.

 

The process will not affect production or supply, the company added.

 

Saudi Paper added that the step was in line with its strategy to cut operating and administrative costs and improve production efficiency.

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