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Sadr Logistics inks SAR 17m deal with Tanmiah’s unit

Sadr Logistics inks SAR 17m deal with Tanmiah’s unit
The contract covers logistics services with automatic storage systems
SADR
1832
0.05% 393.60 0.20

Riyadh – Mubasher: Sadr Logistics Company has penned an agreement worth SAR 16.75 million with Supreme Foods Processing Company, a subsidiary of Tanmiah Food Company, according to a disclosure to Tadawul on Monday.

The three-year contract covers logistics services with automatic storage systems.

Sadr Logistics said the financial impact of this deal will reflect on the income statements of the third quarter (Q3) of 2021.

It is worth noting that Tanmiah will be floating 30% of its capital through an initial public offering (IPO), after the Capital Market Authority (CMA) gave its approval earlier this month.

Sadr Logistics meanwhile said last April that it would pay SAR 0.5 per share as a dividend for 2020.