‎Raoom signs agreement to acquire existing factory in Hail for SAR 15M

Raoom Trading Co. signed yesterday, Dec. 28 an agreement to acquire an existing industrial operating asset in Hail Industrial City, which includes a glass factory along with operational facilities and fixed assets, for a total value of SAR 15 million.

In a statement to Tadawul, the company said it signed a purchase and assignment agreement with Faisal Mahdi Al-Tabinawi Glass Factory to acquire the factory.

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The agreement also includes the assignment of lease contracts concluded with the Saudi Authority for Industrial Cities and Technology Zones (MODON) for the land on which the factory is located, in favor of the company.

Raoom explained that the transaction will be financed through banking facilities previously obtained, noting that MODON approved the transfer of the lease contracts and the completion of all conditions stipulated in the purchase and assignment agreement.

The acquisition is part of the company’s expansion plans aimed at enhancing its operational capabilities, increasing production capacity—exceeding 150,000 square meters annually—and expanding its geographic presence across the Kingdom. The move supports the company’s strategy to diversify revenue sources and improve operational efficiency.

The company noted that the financial impact of the transaction is expected to be shown in its operating results after completing the required procedures and transferring the contracts and assets in accordance with applicable regulations.

Any material developments related to the transaction will be disclosed in due course, Raoom said.

Raoom Trading Co. signed yesterday, Dec. 28 an agreement to acquire an existing industrial operating asset in Hail Industrial City, which includes a glass factory along with operational facilities and fixed assets, for a total value of SAR 15 million.

In a statement to Tadawul, the company said it signed a purchase and assignment agreement with Faisal Mahdi Al-Tabinawi Glass Factory to acquire the factory.

The agreement also includes the assignment of lease contracts concluded with the Saudi Authority for Industrial Cities and Technology Zones (MODON) for the land on which the factory is located, in favor of the company.

Raoom explained that the transaction will be financed through banking facilities previously obtained, noting that MODON approved the transfer of the lease contracts and the completion of all conditions stipulated in the purchase and assignment agreement.

The acquisition is part of the company’s expansion plans aimed at enhancing its operational capabilities, increasing production capacity—exceeding 150,000 square meters annually—and expanding its geographic presence across the Kingdom. The move supports the company’s strategy to diversify revenue sources and improve operational efficiency.

The company noted that the financial impact of the transaction is expected to be shown in its operating results after completing the required procedures and transferring the contracts and assets in accordance with applicable regulations.

Any material developments related to the transaction will be disclosed in due course, Raoom said.