Paper Home board approves SAR 30M factory expansion

21/05/2024 Argaam
Logo ofPaper Home Co.

Logo of Paper Home Co.

Paper Home Co. said its board approved, on March 27, the expansion of its factory for producing corrugated cardboard, as well as paper and plastic labels.

 

This expansion aims to increase the company’s production capacity by 150% to meet customer orders and align with its strategy, according to a statement on Tadawul.

 

For more news and details on the projects

 

The project's cost is estimated at SAR 30 million and will be financed through available cash, bank facilities, and other financing programs. Several entities and consultants have been contracted to supply production lines, with no related parties involved.

 

The company expects to start the project in Q1 2024, with completion and trial production beginning in Q4 2024. The trials will last one month.

 

Commercial production is expected to begin in Q1 2025.

 

The project’s impact will reflect on the Q1 2025 financials and will influence the results for 2025.

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