SIECO approves closure of Sara Medical Supplies, books profit of SAR 3.2 mln

27/11/2022 Argaam

SIECO approves closure of Sara Medical Supplies, books profit of SAR 3.2 mln

Logo of Saudi Industrial Export Co. (SIECO)

The board of directors of Saudi Industrial Exports Co. (SIECO), in a meeting held on Nov. 23, approved the closure of its branch - Sara Medical Supplies Factory - since its activity is incompatible with the company's main activities.

 

Work has been suspended in the factory since 2020, the firm said in a statement to Tadawul.

 

The decision resulted in selling the factory's assets and existing at a net book profit of SAR 3.2 million, the statement added.

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