MEPCO announces restoration of full production capacity and operation of its factory in Jeddah, after operations were affected by rains

The Middle East Paper Company (MEPCO) announced on Monday that it has been able, in record time, to complete the restoration of the entire production capacity and operation of the Plant on Thursday, December 01, 2022, ahead of the expected date of completion in the company’s previous announcement.
It said on a Statement on Tadawul on Monday that the financial impact of the interruption of operations during the period until restarting is a decrease in the value of sales by about SR18 million, which is approximately equal to 7% of the value of sales of the fourth quarter, as a result of the cessation of production operations.
It explained that any material developments will be announced at a later time.
This comes with reference to the announcement of the Middle East Paper Co. (MEPCO) on Tadawul’s website on November 28, 2022 regarding the impact on the Company’s operations as a result of the severe rainy situation in the city of Jeddah.