ASG says factory expansion complete, ready for operations

Logo of ASG Plastic Factory Co.

ASG Plastic Factory Co. completed it factory expansion and the facility is ready to commence operations, according to a statement to Tadawul.

The factory was issued operating license (OLC-25-09-03003382), it added.

The project was completed ahead of schedule thanks to an efficient project development team, which contributed to accelerating execution and enhancing productivity. The early completion was also supported by strong financial liquidity, smooth supply chain operations, and the availability of the required workforce.

As part of it listing prospectus for the Nomu-Parallel Market, ASG disclosed in July 2024 that its expansion plans aim to double current production capacity upon full execution. It also targets increasing production and storage areas to 180,000 square meters, including approximately 90,000 square meters of new expansion areas over the next three years.

In February, the company announced that it completed 56% of the total expansion work, in line with the approved project timeline.