Alujain plans to increase ownership in NATPET, negotiates with a global partner

On Sunday, April 9, 2023, Alujain organised a telephone interview with financial analysts and representatives of a number of investment agencies to discuss the operational performance and financial results for 2022.

The management of Alujain would also like to assure the shareholders that the company will continue to implement its strategic plan for the development of the company’s assets and improve its business through:

1. Continue to increase its ownership percentage in NATPET by acquiring additional ownership shares.
2. Optimal dealing with the shares owned by NATPET from Alujain’s shares, with more than 19.9 million shares, in a way that serves the interest of the shareholders of the two companies, provided that the priority of options is to use these shares in compensation deals for swaps and purchases of shares from NATPET’s current shareholders, after obtaining the required approvals and complying with all relevant requirements.
3. Accelerating work on the development of engineering works and then the construction and operation of the company’s new factory to produce propylene, polypropylene and other specialised products in an integrated manner with the current NATPET factory to maximise the value of the investment in the two companies.
4. Completing the negotiation work to enter into a strategic partnership with a leading global partner in the propylene and polypropylene industry in order to transfer the required technologies and advanced knowledge capabilities for the new project, including the development of specialised products with high returns.

This comes in continuation of the approach of Alujain Corp. in communicating with investors and those interested in the Saudi market and enhancing the level of transparency and disclosure.