AlNaqool’s subsidiary purchases 20 trucks in SAR 6.7M deal

27/01/2025 Argaam
Logo ofMohammed Hasan AlNaqool Sons Co.’

Logo of Mohammed Hasan AlNaqool Sons Co.’

Mohammed Hasan AlNaqool Sons Co.’s wholly-owned subsidiary Sadan Industrial Co. purchased 20 new trucks at a value of SAR 6.67 million (including VAT), with the aim of expanding its business and diversifying its sources of income, the company said in a statement to Tadawul.

 

The purchase deal will be financed from the company’s own resources.

 

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According to AlNaqool, the purchase will contribute to enhancing the company’s capabilities in the field of land freight transportation.

 

This expansion comes after Sadan obtained a license to transport goods by land roads from the General Transport Authority. It also comes in continuation of its strategy that began previously by purchasing 10 trucks during the second half of 2024, bringing the company’s total fleet to 30 trucks.

 

This step will contribute to achieving the company’s expansion goals and strengthening its position in the transportation and logistics sector, AlNaqool stated.

 

The related financial impact is expected to appear during the first half of 2025, said the company, adding that there are no related parties.

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