Modern Mills purchases SAR 16.89M soybean meal from Al Ghurair

04:50 PM (Mecca time) Argaam
Modern Mills said the contract is expected to have a positive impact on 2026 financials.

Modern Mills said the contract is expected to have a positive impact on 2026 financials.

Modern Mills Co. signed today, April 9, a SAR 16.89 million agreement to purchase soybean meal from Al Ghurair Advanced Trading Co.

 

Soybean meal is usually the solid residue of soybeans, and the company indicated that the purchase was for production and manufacturing purposes.

 

In a statement to Tadawul, the company said that the 3-month contract is expected to have a positive impact on the financial results for 2026.

 

Modern Mills explained that its Vice Chairman John Gregory Iossifidis, is also the CEO of Al-Ghurair Investment Group, which owns 100% of the share capital of Al Ghurair International Resources Co., which in turn owns 100% of Al Ghurair Advanced Trading Co.

 

The company further confirmed that the contract is signed based on the ordinary course of business and has no preferential treatment.

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