Maadaniyah to begin commercial ops at new production line in Nov

National Metal Manufacturing and Casting Co. (Maadaniyah) will begin commercial operations at its new stranded wire production line in November, the company said in a statement to the Saudi bourse, Tadawul.

The company, which manufactures pre-stressed concrete strands, axles and welding wires, began pilot operations at the line in September after completing construction and installations.

Positive financial impact is expected to be gradually reflected on the company’s earnings from November onwards, the statement added.

Last April, Maadaniyah’s board of directors had approved adding a new production line at a total cost of SAR 30 million.