Watani Iron Announces Planned Suspension of Production Lines for Comprehensive Maintenance

Watani Iron Steel Company made a notable announcement this Tuesday, revealing its plans to initiate a scheduled shutdown (annual maintenance) of production lines, units, and operational facilities for comprehensive maintenance work. The maintenance period is anticipated to span 20 to 25 days, in accordance with the established schedule, commencing on December 15, 2023.

In a statement released on Tadawul, the company emphasized that this thorough maintenance initiative is crucial for ensuring the safety and stability of operations, as well as enhancing the overall productive lifespan of all production units and operational facilities in the future.

The company anticipates that the planned maintenance will have no adverse effects on its sales during this period. This suspension is a planned component of the company’s business strategy for the current year, complemented by a strategic inventory of finished products that will adequately meet the demands of Watani Iron’s customers throughout this timeframe.

It is noteworthy that the financial impact of this maintenance effort will be reflected in the company’s financial results at the conclusion of the fiscal year 2023.