Logo of Wafrah for Industry and Development Co.
Wafrah for Industry and Development Co. signed on Nov. 21 an agreement with Italy’s Pavan Group, owned by the German engineering group GEA, to supply two production lines for long-cut pasta and nested pasta at a value of €9 million euros (SAR 35 million).
In a statement on Tadawul, Wafrah said the agreement includes the purchase of long-cut pasta line with production capacity of 2,100 kg/hour, and nested pasta line with the capacity of 1,000 kg/hour, provided that the delivery and commissioning take place within 15 months from contract’s signing date.
A positive financial impact is expected to show on Wafrah’s revenues as of Q1 2024.
There are no related parties, it noted.
This comes as part of Wafrah plan to update and automate the production lines in the factories, as Pavan is one of the leading and distinguished firm in the pasta machinery industry.
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