Aseer quits agriculture business by early 2013

Aseer Company announces that its board of directors decided on February 24, 2013 to cease the company’s agricultural business activity as of early 2013.

Traditionally, the company was active in the industrial, investment and agricultural sectors. Its agricultural business relied on inputs such as fertilizers, seeds and pesticides, and it decided to shut the business down due to its inconsistency with the company’s strategic vision and due to its small scale.

The decision will have no material effect on Aseer’s business volume or financial results, as the company started a gradual reduction of the business since 2009. The gradual reduction was covered in the Board’s reports of recent years.