Logo of Al-Hassan Ghazi Ibrahim Shaker Co.
Al-Hassan Ghazi Ibrahim Shaker Co. signed a non-binding memorandum of understanding (MoU) with Italy-based Fox S.p.A. di Renzo Bompani e C. to establish a factory to manufacture cooking ranges in Saudi Arabia.
The MoU came into effect on May 25 and is valid for one year, Shaker said in a statement to Tadawul.
It is currently difficult to estimate the relevant financial impact, Shaker added, noting that there are no related parties to the preliminary agreement.
Any developments will be announced duly, the air conditioners manufacturer concluded.
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