Atlas Elevators signs SAR 400,000 agreement with Makannah Trading

Atlas Elevators expects a positive financial impact from the agreement

Atlas Elevators General Trading and Contracting Co. entered into an agreement with Makannah Trading Co. at a total value of SAR 400,000, excluding VAT, according to a statement to Tadawul.

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Under the deal, Makannah will oversee equipment upgrades and modernization in line with work and production needs. It will also select technical staff to manage and operate the company’s factory, ensure efficient plant operations, take part in engineering and technical meetings, and supervise the upgrade and relocation of the company’s old plant.

The agreement further includes cooperation in operational activities, such as securing exclusive agencies, sourcing high-quality raw materials at competitive prices, and assisting in obtaining international product certifications—including ISO—to support Atlas Elevators’ future plans and strategic objectives.

Atlas Elevators expects a positive financial impact over the agreement term.