Shaker renews exclusive deal with LG for 3 years

21/09/2020 Argaam

Al Hassan Ghazi Ibrahim Shaker Co. announced on Monday the renewal of the exclusive agency for LG air conditioners across the Kingdom, as it finalized the renewal procedures with LG Electronics and obtained the commercial agencies system’s approval.

 

The company added in a statement on Tadawul that the renewal is effective from Jan. 1, 2020, for a period of 3 years.

 

 

The deal renewal is expected to have a positive impact on the company's performance, indicating that it is difficult to determine the financial impact at present.

 

LG air conditioners’ sales account for 62.7% of the company's total sales.

 

The Saudi-based firm asserted that any further developments will be disclosed in due course.

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