Balady said that the marketing deal with Almunajem is valid for seven years
Under the agreement, Almunajem will market and distribute the covered poultry products in markets within and outside Saudi Arabia.
In a statement to Tadawul, the company said the memorandum has a term of seven years and is expected to have a positive financial impact on its results over the duration of the contract.
The company added that the agreement aims to enhance sustainable joint growth for both companies and increase the market share of local products in the Saudi market through higher quality and improved operational efficiency.
The partnership reflects strategic integration between the producer, Balady, and the marketer and distributor, Almunajem, to achieve shared objectives in the poultry sector.
The statement added that there are related parties to the deal, including deputy chairman Thamer Abanmi, who has an indirect interest in the contract in his capacity as managing director of Almunajem.
It also includes Balady board member Abdullah Bawazir, who has an indirect interest in the contract as a member of the board of directors of Almunajem.
Balady said that the marketing deal with Almunajem is valid for seven years
Under the agreement, Almunajem will market and distribute the covered poultry products in markets within and outside Saudi Arabia.
In a statement to Tadawul, the company said the memorandum has a term of seven years and is expected to have a positive financial impact on its results over the duration of the contract.
The company added that the agreement aims to enhance sustainable joint growth for both companies and increase the market share of local products in the Saudi market through higher quality and improved operational efficiency.
The partnership reflects strategic integration between the producer, Balady, and the marketer and distributor, Almunajem, to achieve shared objectives in the poultry sector.
The statement added that there are related parties to the deal, including deputy chairman Thamer Abanmi, who has an indirect interest in the contract in his capacity as managing director of Almunajem.
It also includes Balady board member Abdullah Bawazir, who has an indirect interest in the contract as a member of the board of directors of Almunajem.
