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APICO inks MoU to localize ventilation, AC manufacturing
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Content Summary: 
APICO said the non-binding MoU will currently have no financial impact
Arabian Plastic Industrial Co. (APICO) signed a non-binding memorandum of understanding (MoU) on Feb. 10 with Air International Thermal Systems to collaborate on localizing the manufacturing of ventilation and air-conditioning products.
In a statement to Tadawul today, Feb. 11, APICO said the MoU also aims to define the framework of understanding regarding the initial mutual obligations and rights between the two parties.
The MoU comes into effect from the date of its signing until Dec. 31, 2026, or until the signing of the agreement.
There is currently no financial impact, the company said, adding that it will announce any material developments regarding this transaction in due course.
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