MEPCO says court upholds ruling against GAC, WASCO fined SAR 10M

Middle East Paper Manufacturing and Production Co. (MEPCO) headquarters

Middle East Paper Manufacturing and Production Co. (MEPCO) said that the Administrative Appeal Court upheld the preliminary ruling issued against the General Authority for Competition (GAC), imposing a fine of SAR 10 million on its wholly owned subsidiary, Waste Collection and Recycling Co. (WASCO).

For more news on listed companies

The written judgment will be received on Aug. 26, MEPCO explained in a statement to Tadawul.

There will be no financial impact in the year 2025, as the company has previously allocated provisions of SAR 10 million for the claim in 2024.

MEPCO will appeal to the Supreme Administrative Court after receiving the ruling on the date mentioned above.

In March, the paper manufacturer said that a Supreme Administrative Court ruling was delivered, overturning a ruling issued in favor of WASCO, Argaam reported.

In January 2024, a final judgment was ruled by the Administrative Court in Makkah, overturning a preliminary ruling and a fine of SAR 10 million against WASCO.