Logo ofAl Hassan Ghazi Ibrahim Shaker Co. (Shaker)
Al Hassan Ghazi Ibrahim Shaker Co. (Shaker) announced the expiration of its memorandum of understanding (MoU) with LG Electronics and the Ministry of Investment to localize the manufacturing of air-conditioner compressors in Saudi Arabia, without renewal or reaching a binding agreement. 
In a statement to Tadawul, the company said the termination does not entail any financial liabilities and will have no impact on its financial position or results.
According to available data on Argaam, Shaker announced in February 2024 the signing of a non-binding MoU with LG Electronics and the Saudi Ministry of Investment to initiate the manufacturing of air-conditioner compressors in the Kingdom.
The MoU was valid for one year and aimed to study a potential plan and agreement between the parties to localize compressor manufacturing in Saudi Arabia.
Logo ofAl Hassan Ghazi Ibrahim Shaker Co. (Shaker)
Al Hassan Ghazi Ibrahim Shaker Co. (Shaker) announced the expiration of its memorandum of understanding (MoU) with LG Electronics and the Ministry of Investment to localize the manufacturing of air-conditioner compressors in Saudi Arabia, without renewal or reaching a binding agreement.
In a statement to Tadawul, the company said the termination does not entail any financial liabilities and will have no impact on its financial position or results.
According to available data on Argaam, Shaker announced in February 2024 the signing of a non-binding MoU with LG Electronics and the Saudi Ministry of Investment to initiate the manufacturing of air-conditioner compressors in the Kingdom.
The MoU was valid for one year and aimed to study a potential plan and agreement between the parties to localize compressor manufacturing in Saudi Arabia.
