AI Summary
Logo of Shmoh Almadi Co.
|
Item |
1st Contract |
2nd Contract |
|
Contractor |
Foshan International Trade Co. Ltd |
SINOBAKE Group Ltd |
|
Contract Value |
SAR 1.91 million ($509,000) |
SAR 3 million ($800,000) |
|
Contract Details |
Supply and installation of an automated line for filling and packaging maamoul and date bars. The contract includes the supply of a fully integrated packaging line. |
Supply and installation of a fully integrated production line for maamoul and biscuits. |
|
Duration |
70 business days from the date of the advance payment, in addition to a 35-day installation and commissioning period. |
150 business days from the date of the advance payment, plus an expected 90-day installation and trial operation period. |
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In two statements to Tadawul on Sunday, the company said the financial impact of the contracts is expected to be reflected in its capital expenditures during the 2025 fiscal year, with a positive impact on financial and operational results starting in 2026 after the two lines become operational.
The company said the contracts are part of its strategy to boost production capacity and enhance operational efficiency to meet rising demand for its products locally and internationally. This move aims to strengthen the company’s competitiveness and support the achievement of its strategic growth objectives.
It added that the second contract will enable the company to produce high-quality maamoul and biscuits, enhance its competitiveness in local and international markets, and open new business opportunities in line with its strategic plan.
The company confirmed that there are no related parties to the contracts, which were signed in the ordinary course of business without any preferential terms.
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