Raoom signs deal to acquire factory in Hail for SAR 15M

The asset includes a glass factory along with its operational facilities and fixed assets, the company said in a statement to Tadawul.

Raoom signed a purchase and assignment agreement with Faisal Mahdi Al-Tabinawi Glass Factory to acquire the facility. The deal also includes the assignment of lease contracts with the Saudi Authority for Industrial Cities and Technology Zones (MODON) for the land on which the factory is located.

The acquisition will be financed through previously obtained banking facilities. MODON has approved the transfer of the lease contracts, and all conditions stipulated in the agreement have been met, according to the company.

Raoom explained that the acquisition forms part of its expansion plans to enhance operational capabilities, increase annual production capacity to more than 150,000 square meters, and expand its geographic presence across the Kingdom. The move supports the company’s strategy to diversify revenue streams and improve operational efficiency.

The company noted that the financial impact of the transaction is expected to be shown in its operating results after completing the required procedures and transferring the contracts and assets in accordance with applicable regulations.

Any material developments related to the transaction will be disclosed in due course, Raoom said.