Saudi Top unveils capital expansion plan

Headquarters of Saudi Top for Trading Co. 

Saudi Top Trading Co. announced its expansion plan, aimed at diversifying income sources, reducing costs, increasing profitability and financial solvency through new production lines.

In a statement to Tadawul, the company said that the new production lines are as follows: a production line of recycled plastic granules "granulation" to increase the production capacity of recycled materials, a plastic pallet production line, Schrader cutting machine, a machine for sorting plastic granules "polymers" based on colors and packing line in 25-kilogram bag.

The company aims to complete the supply chain and achieve the principle of a circular economy, starting from plastic waste through recycling and reaching a final product that serves several markets. This will diversify sources of income, maximize profitability, and increase financial solvency.

Saudi Top expects commercial production of the granulation line and the new line for the production of plastic pallets, color sorting machine and packing machine to start in the fourth quarter of 2023.

The firm indicated that the expansion will be funded from its own cash to reduce financing costs.

These expansions aim to boost its market share in the plastic sector in the domestic and foreign markets, diversify and increase sources of income, increase its profitability, reinforce its financial solvency, and maximize shareholder rights, the company added.