Logo ofElectrical Industries Co.
Electrical Industries Co. announced that its Belgium-basedsubsidiary, Pauwels Transformers Co., signed a framework agreement ata value of approximately SAR 150.4 million, excluding tax with Enedis, the main operator of the French electricity distribution network, to design, manufacture, and supply power transformers for the network. 
In a statement to Tadawul,Electrical Industriespointed out the contract term is five years, extendable for an additional three years until 2033.
The total contract value can reach approximately SAR 227.3 million, if the optional extension clauseis applied.
The deal includes a price adjustment clause to protect against fluctuations in raw material costs, and expected the contract to have a positive financial impact on its financial results starting in 2027, the statement noted.
The contract underscored the company’s strategy to expand in the European market, the company added, stressing thatthe design and manufacturing of the transformers will be carried out at Pauwels Transformers’ plant in Mechelen, Belgium.
There are no related parties to the deal, the statement said.
Logo ofElectrical Industries Co.
Electrical Industries Co. announced that its Belgium-basedsubsidiary, Pauwels Transformers Co., signed a framework agreement ata value of approximately SAR 150.4 million, excluding tax with Enedis, the main operator of the French electricity distribution network, to design, manufacture, and supply power transformers for the network.
In a statement to Tadawul,Electrical Industriespointed out the contract term is five years, extendable for an additional three years until 2033.
The total contract value can reach approximately SAR 227.3 million, if the optional extension clauseis applied.
The deal includes a price adjustment clause to protect against fluctuations in raw material costs, and expected the contract to have a positive financial impact on its financial results starting in 2027, the statement noted.
The contract underscored the company’s strategy to expand in the European market, the company added, stressing thatthe design and manufacturing of the transformers will be carried out at Pauwels Transformers’ plant in Mechelen, Belgium.
There are no related parties to the deal, the statement said.
