Saudi Company for Hardware (SACO) has inked a one-year service contract with Medscan Terminal Company (LLC).
Under the contract, Medscan will provide SACO with transportation, logistics and warehousing services starting today, SACO said in a statement to Saudi bourse, Tadawul.
While the contract value cannot be determined at present because it is based on future transactions, the financial impact will be booked in the third quarter, SACO said.
There are no any preferential terms in this contract, SACO said.
In April, SACO shareholders approved the takeover of Medscan Terminal, and the Saudi company is currently obtaining the approvals from the Ministry of Commerce and Industry.
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