Riyadh — Mubasher: Arabian Plastic Industrial Company (APICO) entered into a purchase agreement on 31 August, to acquire an existing factory site in the Third Industrial City of Jeddah for a total value of SAR 28 million.
The transaction involves the acquisition of the site from Fal Al-Mustaqbal Industrial Company and includes all existing buildings and facilities. The site covers a total area of 44,638 square meters.
As part of the agreement, the company will take over the lease contracts previously established with the Saudi Authority for Industrial Cities and Technology Zones (MODON).
APICO stated that the acquisition is aligned with its strategic expansion plans and is intended to increase its overall production capacity. It plans to fund the transaction through existing banking facilities.
Completion of the deal remains subject to approval from MODON and the fulfillment of all conditions specified in the purchase and assignment agreement.
APICO expects the increased production capacity to positively impact its market share in the coming years.
In the first half (H1) of 2026, the listed company posted net profits of SAR 15.18 million, an annual rise of 43.22% from SAR 10.60 million.
