“Milan” signs a contract to buy “Mayar International” for 34.8 million riyals

Last Thursday, Malan Iron Products Company signed for its shareholders a contract to purchase Mayar International Company for Industry by 100%.
According to the company’s statement on the Saudi Tadawul, this step comes in line with the company’s direction to expand its activities, noting that the factory’s assets, its licenses, buildings, and trade name will be acquired.
The deal includes:
1- Transferring the commercial registration of Mayar International Company for Industry from the branch of Yara International Company Limited to the branch of Malan Iron Products Company.
2- Transferring all assets, licenses and headquarters of Mayar International Industrial Company.
3- Transferring ownership of the trademark (Cool Master) to Malan Iron Products Company.
4- Pay the financial consideration in 7 installments within seven months from the date of signing the contract.
5- Malan Iron Products Company will bear the debt of the Industrial Development Fund.
This step comes in implementation of the company’s expansion strategy, which aims to grow and expand.
This factory will contribute positively to increasing Mulan’s sales and profits starting from the first quarter of the year 2025 AD, and the gradual growth in the company’s profits will begin with developing the factory and increasing its production capacity.
She pointed out that the value of the deal is 34,880.970 riyals, and the deal will be financed through the buyer’s internal financing sources.
She stated that the deal includes: the manufacture of refrigerators and freezers, the manufacture of water coolers, and the manufacture of electric fans.
She added that the reasons for the deal are: adding an industrial arm to enhance the company’s vertical growth. Reducing the impact of iron price fluctuations through added value to products.
She said that the expected impact of the deal on the company and its operations: increased revenues, which is reflected in profitability, increased assets and liabilities of the company, and expansion and growth in the Saudi market.