Bawan expects no substantial financial impact of coronavirus

Bawan Co. said it does not expect any substantial financial impact due to the coronavirus pandemic.

During its Q2 2020 earnings call on Aug. 31, the company said it had sufficient liquidity to continue to meet its financial commitments in the near future.

The company said that it had filed an insurance claim to compensate for the fire that broke out at one of the factories of its affiliate ARNON Plastic Industries Co., adding that it is still in the process.

The company indicated that it continues to monitor the situation and apply precautionary measures to ensure the continuation of operations while maintaining the health and safety of employees and customers.

According to data available with Argaam, the company announced in April that business segments are still operating, but the 24-hours curfew directive in some cities of the Kingdom has impacted the process of supply and distribution of products.

In February, the company announced that a fire broke out at one of the factories of its affiliate ARNON Plastic Industries Co. in Dammam.