Riyadh – Mubasher: Saudi Drip Irrigation Company, a subsidiary of Mayar Holding Company, signed a contract with American firm Hunter Industries on 4 February 2024.

Under the deal, Saudi Drip will manufacture Hunter Industries’ products for agricultural, residential, commercial, and golf irrigation systems, according to a bourse filing.

The five-year agreement also covers water and energy-saving solutions for irrigation systems, distribution technology, as well as custom manufacturing sectors.

Mayar Holding underlined that the contract will have a positive impact on its financial results, which is expected to begin as of the second quarter (Q2) of 2024.

Earlier in January 2024, the Tadawul-listed company withdrew its capital hike file due to further requirements imposed by the Capital Market Authority (CMA).