Riyadh – Mubasher: National Metal Manufacturing and Casting Co. (Maadaniyah) said it signed a memorandum of understanding (MoU) with France’s Falco Group.

The MoU entails building valves in the fields of oil, gas and petrochemicals, Maadaniyah said in a filing to the Saudi Stock Exchange (Tadawul) on Monday.

The six-month MoU begins on the day of signing the agreement which is 1 May, 2016, the company added.