Mayar’s Subsidiary Signs MoU with Chinese Company

Mayar Holding Co. announced on Sunday that one of its subsidiaries, NewPlast Co., signed a Memorandum of Understanding (MoU) with Avant Sports, a Chinese company. NewPlast Co. will manufacture plastic chairs for sports stadiums to various specifications, in accordance with international and FIFA standards.

The Company stated in a statement today on the Saudi Stock Exchange (Tadawul) that the agreement aims to produce these products at its factory in Riyadh, according to international stadium standards, with high quality, durability and comfort.

This step comes within the framework of the Company’s efforts to support development projects in the Kingdom and contribute to achieving the goals of Vision 2030 to localise specialised industries, such as the manufacture of products for the sports and stadium sectors.