AlNaqool’s subsidiary buys 50 trucks in SAR 14.9M deal

Logo of Mohammed Hassan Al Naqool Sons Co. 

Mohammed Hassan Al Naqool Sons Co. announced that its wholly owned subsidiary, Sadan Industrial Co., has signed an agreement to purchase 50 new trucks, at a value of SAR 14.9 million (excluding VAT).

The company said in a statement on Tadawul that the purchased (Daewoo) 2026 model trucks will be used in carrying out transportation and logistics operations, adding that the deal will be financed through the company’s own resources and credit facilities previously obtained by the subsidiary.

AlNaqool added that the trucks will be received in stages, with the determination of the number of trucks to be withdrawn in each stage left to the discretion of the Sadan Co., based on its operational needs, market conditions and other relevant factors.

The company anticipated the financial impact of this transaction would be reflected in Q3 2026, noting that there were no related parties involved.

The transaction aims to support the company's expansion plans by increasing the size of its operational fleet and meeting the growing demand for transportation and logistics services. This will enhance its competitiveness, improve operational efficiency, contribute to revenue growth, and help it achieve its strategic objectives.