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Middle East Paper Co. Announces Contract Sign Off with J.M. Voith SE & Co. KG Company
| Element List | Explanation |
|---|---|
| Introduction | Referring to the company's previous announcement on 20/10/2022 G on the Tadawul website regarding the start of the preparatory procedures phase for the new containerboard paper plant project (fifth paper line). The Middle East Paper Co. announces the signing of a contract with J.M. Voith SE & Co. KG Company for manufacturing, supplying, and supervising the installation of the main machine for the project. |
| Date of Announcement of the Award | 2024-04-22 Corresponding to 1445-10-13 |
| Contract Subject Matter | Engineering and Supply Contract |
| The Entity with Which the Contract was Signed | J.M. Voith SE & Co. KG Company |
| Date of Signing the Contract | 2024-04-22 Corresponding to 1445-10-13 |
| Contract Value | The contract value exceeds 62% of the Company’s total revenue according to the last audited annual financial statement. |
| Contract Details | Purchase of a complete line of paper production machines with a production capacity of 450 thousand tons per year and a speed of 1600 meters/minute, and the Counterparty in the contract will be responsible for manufacturing, supplying, and supervising the installation of the machine. |
| Contract Duration | 36 Months |
| Financial Impact and the Relevant Period | The financial impact will start from Q4 2027 |
| Related Parties | No related parties |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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