SIECO approves closure of Sara Medical Supplies, books profit of SAR 3.2 mln

27/11/2022 Argaam
Logo of Saudi Industrial Export Co. (SIECO)

Logo of Saudi Industrial Export Co. (SIECO)

The board of directors of Saudi Industrial Exports Co. (SIECO), in a meeting held on Nov. 23, approved the closure of its branch - Sara Medical Supplies Factory - since its activity is incompatible with the company's main activities.

 

Work has been suspended in the factory since 2020, the firm said in a statement to Tadawul.

 

The decision resulted in selling the factory's assets and existing at a net book profit of SAR 3.2 million, the statement added.

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