SPPC to get SAR 16.1 mln insurance claim for damage at UAE subsidiary

29/09/2015 Argaam

Saudi Printing and Packaging Company (SPPC) will get a SAR 16.1 million insurance settlement from United Arab Emirates-based United Insurance Company for damage caused by a fire at one of its warehouses in the UAE.

 

Financial impact of the settlement will be reflected on SPPC’s third quarter results, the company said in a filing to Saudi Arabia’s bourse.

 

Last November, a fire broke out at the warehouses of Citi Pak, the company’s UAE subsidiary, Argaam previously reported.

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