Mohammed Hassan Al-Naqool Sons Company announces that its subsidiary, Sadan Company, has purchased 20 trucks for a value of 6,670,000 Saudi Riyals, including VAT.
| Element List | Explanation |
|---|---|
| Introduction | Mohammed Hassan Al-Naqool Sons Company is pleased to announce that its wholly owned subsidiary, Sadan Company, has expanded its logistics operations by purchasing (20) new trucks, which will contribute to enhancing the company’s capabilities in the field of land freight transportation.
This expansion comes after Sadan Company obtained a license to transport goods by land roads from the General Transport Authority, and in continuation of its strategy that began previously by purchasing (10) trucks during the second half of the previous year, bringing the company’s total fleet to (30) trucks.
We believe that this step will contribute to achieving the company’s expansion goals and strengthening its position in the transportation and logistics sector. |
| Transaction Details | twenty trucks |
| Transaction Amount | 6,670,000 Saudi Riyals including VAT |
| Transaction Conditions | nothing |
| Parties of the Transaction | Buyer: Sadan Industrial Company
Seller: Saudi Diesel Equipment Co. Ltd. |
| Transaction Financing Method | Company's own resources |
| Date of Entering Into The Transaction | 2025-01-27 Corresponding to 1446-07-27 |
| Description of Activity of The Asset Subject of The Transaction | 20 trucks will be used in the field of logistics. |
| Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction | Not applicable |
| Transaction reasons | Expanding the company's business and diversifying its sources of income |
| Expected Impact of the Transaction on the Company and Its Operations | The financial impact of this deal is expected to appear during the first half of 2025. |
| Related Parties | nothing |
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