Mayar’s unit inks MoU with Chinese firm on product manufacturing

22/06/2025 Argaam
Logo ofMayar Holding Co.

Logo of Mayar Holding Co.

Mayar Holding Co. said its affiliate NewPlast Co. signed on June 19 a two-year memorandum of understanding (MoU) with China-based Avant Sports Industrial Co. for product manufacturing.

 

Under the MoU, NewPlast will manufacture plastic chairs for sports stadiums according to international specifications and FIFA standards, Mayar said in a statement to Tadawul.

 

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Products will be manufactured in the Riyadh factory.

 

Mayar expects a positive financial impact in the long term, noting that no related parties are included in the deal.

 

The move aligns with the company’s effort to support the Kingdom’s development project, contribute to delivering the Vision 2030 targets, and localize qualitative industries such as sports products.

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