Riyadh, Saudi Arabia, February 6, 2024, Saudi Chemical Company Holding, through its subsidiary Saudi Chemical Company Limited, signed a binding agreement with the Bosnian company Tehnicki Remont Bratunac (TRB) to transfer the knowledge and to be localize the production of mechanical fuses for 155, 105 and mortar ammunition. The signing ceremony took place during today at the World Defense Show, in which Saudi Chemical Company Limited is participating as a gold sponsor for this global event for the military industries sector.
Contract Duration
1 year - to transfer the knowledge, to localize the technology and to complete the installation of the production line.
Financial Impact and the Relevant Period
It is expected that we will achieve an increase in total revenue by more than SR 25 Million annually after starting the commercial marketing of these products which is anticipated to start within 2025
Related Parties
There’re no related parties.
Additional Information
Commenting on the agreement, Eng. Thamer Al-Muhid, GCEO and MD, said: "This agreement confirms our commitment to supporting the goals of Vision 2030 and enhancing local content. We seek to localize military industries, which will contribute to developing the defense capabilities of our country and supporting efforts to achieve self-sufficiency in this vital sector”.
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