Waraq and Yadum launch a strategic partnership to support the transition towards a circular economy

The Arab Paper Manufacturing Company “Waraq” announced today the conclusion of a strategic partnership agreement with the Materials Recycling Company for Environmental Services “Yedum”, which is one of the companies affiliated with the Saudi Public Investment Fund through the Saudi Investment Recycling Company “SRIC”.

Under this agreement, Yadum will obtain a 35% stake in Waraq Company’s shares after increasing its capital, thus becoming a major strategic partner that supports the company’s plans to enhance its investments in the field of recycling and achieve its environmental goals.

Circ’s acquisition of a stake in Waraq supports the transition towards a circular economy, as it contributes to reducing carbon emissions and preserving natural resources. This strategic step is in line with the Kingdom’s Vision 2030 and contributes to achieving its environmental and economic goals.

Waraq’s achievements did not stop there, but rather extended to include the production of high-quality cardboard rolls that meet the needs of the local market and reduce dependence on imports. The company was also able to export its products to various countries of the world, which strengthened the national balance of payments and raised the position of the Kingdom of Saudi Arabia as a major producer of paper in the region.

As part of its continuous endeavor to achieve environmental sustainability, Waraq has relied on the latest technologies in the field of water treatment, as it was able to recycle industrial wastewater, which contributed to rationalizing groundwater consumption and preserving this vital resource. The company also replaced fossil fuels with gas

Natural production processes, which reduces carbon emissions and preserves petroleum resources.

Over the course of thirty years, Waraq continued to develop its production processes, as it was able to double production capacity by adding modern production lines, which contributed to increasing productivity and meeting the growing demand for its products. The company was also keen to achieve the highest percentage of local content in its business, which supported the national economy and provided direct and indirect job opportunities.

Waraq’s efforts were not limited to the production side, but extended to include the establishment of companies that support supply chains and environmental protection, which contributed to enhancing integration in the industrial sector.

With these achievements, Waraq has proven its leadership in the field of recycling and environmental protection, and has become a role model for companies operating in this sector.

Waraq affirmed its commitment to continuing the process of innovation and development, by enhancing production and diversifying the products it provides to customers. The company also seeks to expand its customer base locally and internationally, and reach new and promising markets. In addition, Waraq aims to increase its geographical reach by creating new partnerships and expanding its operations.

It is expected that this strategic partnership will contribute to achieving the aspirations of the company’s shareholders, and enhance its contribution to the national economy by providing new job opportunities and supporting related industries. This partnership will also contribute to enhancing environmental sustainability, by adopting the latest technologies in the field of recycling and reducing the environmental impact of production operations.

With this partnership, “Waraq” confirms its intention to continue its path towards leadership in the field of paper industry, and to contribute to achieving the sustainable development goals in the Kingdom of Saudi Arabia.

On this occasion, the Board of Directors of the Arab Paper Manufacturing Company “Waraq” expressed its sincere thanks and appreciation for the wise leadership in the Kingdom of Saudi Arabia.

Represented by the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and Crown Prince Mohammed bin Salman bin Abdulaziz, for the great and unlimited support they provide to the industrial sector and the national economy.

The Council also thanked and appreciated the Public Investment Fund, represented by “SARC” Company, for the great confidence it placed in the company, which reflected positively on its path towards growth and prosperity.

The Council stressed the importance of the role played by the private sector in supporting the comprehensive development process in the Kingdom, expressing its appreciation to all partners and customers for their continued confidence in the company’s products and services.

The Board thanked Waraq employees for their continuous efforts and effective contributions to achieving the company’s achievements, stressing that they are the main pillar of the success process. Waraq’s Board of Directors also affirmed its commitment to continuing hard work and innovation to achieve more achievements and contribute to advancing sustainable development in the Kingdom of Saudi Arabia.