Baazeem Trading Company announced on Tuesday the successful completion of installing a new production line for sponge products at its factory in Asfan, Makkah region.
The company stated that this new production line will enhance its capacity to meet consumer demand.
According to the announcement published on Tadawul, the commissioning, qualification, and validation processes for the new line will begin during the first quarter of 2025. The actual production is expected to commence in the second quarter of the same year.
Baazeem anticipates the financial impact of the new line’s operation to be reflected in the company’s financial statements for the second quarter of the fiscal year 2025.
Notably, the new production line was fully funded through the company’s cash flows, with no external financing required.
