Saudi Parts Center’s board approves to set up new fully-owned subsidiary

Logo of Saudi Parts Center Co.

Saudi Parts Center Co.’s (SPC) board of directors approved on March 20 to establish a fully-owned limited liability (one-person company), with capital of SAR 100,000.  

Headquartered in Riyadh, the company will operate in manufacturing and remanufacturing spare parts, SPC said in a statement to Tadawul.  

The subsidiary will be set up after obtaining the necessary approvals and licenses from the relevant authorities.   

The move is in line with SPC’s strategic plan to enter the manufacturing field, the statement noted, adding that further developments will be announced in due course.