FIPCO subsidiary to start commercial ops by Q1

13/12/2018 Argaam

Filling and Packing Materials Manufacturing Company (FIPCO)'s subsidiary FPC Industries Co. will launch commercial operations at its production lines by Q1 2019, it said in a statement to Tadawul on Thursday.

 

The project was 95 percent complete, the statement said.

 

The relevant financial impact will appear on earnings of Q1 2019.

 

FIPCO seeks to export around 50 percent of its gross sales, the statement added.

 

In June, the company successfully installed main production lines and started trial production.

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