Logo ofRaoom Trading Co.
Raoom Trading Co. signed, on April 21, an agreement to acquire two existing industrial operating assets comprising two glass and aluminum manufacturing plants, together with related operational facilities and fixed assets, for a total of SAR 15.8 million excluding VAT and any assignment/transfer fees payable to the relevant authorities. 
In a statement to Tadawul, the company said that one asset is located in Riyadh 2nd Industrial City, while the other is located in Dammam 1st Industrial City.
Raoom also noted that it signed a purchase and assignment agreement with Alma for Glass and Aluminum Co. to acquire the factories, with Alma Glass to assign the lease contracts concluded with the Saudi Authority for Industrial Cities and Technology Zones (Modon) on which the factories are located, in favor of the company.
The transaction will be financed through the company’s internal resources and banking facilities previously obtained, the statement added, indicating that the company obtained Modon’s approval to transfer the lease contracts and complete of all conditions stipulated in the purchase and assignment agreement.
This acquisition comes within the company’s expansion plans aimed at enhancing its operational capabilities, increasing production capacity, and expanding its geographic reach in the Kingdom’s regions, in a manner that supports its directions towards diversifying revenue sources and improving operational efficiency, the Saudi-listed company said.
The financial impact of the transaction is expected to appear on the company’s operational results after completing the procedures and transferring the contracts and assets in accordance with applicable regulations. Any material developments will be disclosed in due course, the statement further noted.
Logo ofRaoom Trading Co.
Raoom Trading Co. signed, on April 21, an agreement to acquire two existing industrial operating assets comprising two glass and aluminum manufacturing plants, together with related operational facilities and fixed assets, for a total of SAR 15.8 million excluding VAT and any assignment/transfer fees payable to the relevant authorities.
In a statement to Tadawul, the company said that one asset is located in Riyadh 2nd Industrial City, while the other is located in Dammam 1st Industrial City.
Raoom also noted that it signed a purchase and assignment agreement with Alma for Glass and Aluminum Co. to acquire the factories, with Alma Glass to assign the lease contracts concluded with the Saudi Authority for Industrial Cities and Technology Zones (Modon) on which the factories are located, in favor of the company.
The transaction will be financed through the company’s internal resources and banking facilities previously obtained, the statement added, indicating that the company obtained Modon’s approval to transfer the lease contracts and complete of all conditions stipulated in the purchase and assignment agreement.
This acquisition comes within the company’s expansion plans aimed at enhancing its operational capabilities, increasing production capacity, and expanding its geographic reach in the Kingdom’s regions, in a manner that supports its directions towards diversifying revenue sources and improving operational efficiency, the Saudi-listed company said.
The financial impact of the transaction is expected to appear on the company’s operational results after completing the procedures and transferring the contracts and assets in accordance with applicable regulations. Any material developments will be disclosed in due course, the statement further noted.
