Takween Advanced Industries Company announced that its accumulated losses reached about 22.8% of the capital.
The company said that the value of accumulated losses until the end of 2018 amounted to 216 million Saudi riyals, while the company’s capital amounted to 950 million riyals.
The company explained that the main reasons for these accumulated losses are lower sales volumes and higher prices for raw materials.
The official website of the Saudi market stated today, Wednesday, that the procedures and instructions will be applied to the companies listed on the market, whose accumulated losses amounted to 20% or more of its capital.
The company operates in Saudi Arabia through its headquarters in Khobar and through its factory in Al-Ahsa. The company also acquired a factory in the city of El-Ayoun - Al-Ahsa Governorate.
The company also operates inside the Kingdom through its subsidiaries, Ultrapack and SAF, in addition to the acquisition of Savola Packaging Systems (currently Plastico).
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