ASG Plastic Factory Co. Announce an update Announce about the latest developments regarding the factory expansion project
| Element List | Explanation |
|---|---|
| Introduction | Referring to the announcement by ASG Plastic Factory Co. published on 12/02/2025 regarding the latest developments related to the factory expansion project, and achieving a completion rate of 56% of the total work on the factory expansion project, which was financed from the proceeds of the initial public offering (IPO).
The company is pleased to announce the completion of the factory expansion project with a 100% completion rate, the issuance of the operating license (OLC-25-09-03003382), and the full readiness of the factory to commence operations. This project was primarily financed from the proceeds of the initial public offering, in line with the company’s strategic plans and its commitment to developing its production capabilities and strengthening its presence in the Saudi market. This expansion aims to increase production capacity, broaden the range of products in the targeted sectors, reinforce the company’s position in the industrial sector, and explore new opportunities for growth and expansion. |
| Previous Announcement | ASG Plastic Factory Co. Announce an update Announce about the latest developments regarding the factory expansion project |
| Date of Previous Announcement on Saudi Exchange’s Website | 2025-02-12 Corresponding to 1446-08-13 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | The completion of the factory expansion project with a 100% completion rate, the issuance of the operating license (OLC-25-09-03003382), and the full readiness of the factory to commence operations. |
| Reasons For The Delay on The Date of The Event Previously Announced | None |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | None |
| Delay consequences on the Company’s financial results | None |
| Additional Information | The company would like to note that the project was completed ahead of schedule thanks to the efficiency of the project development team, which contributed to accelerating project implementation and increasing productivity, in addition to the availability of liquidity, smooth supply chains, and the availability of the necessary labor. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of its knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.