First Milling Company Announces the Start of Operation of its Mill-C in Jeddah Plant After Completing an Expansion to Increase its Production Capacity

First Milling Company Announces the Start of Operation of its Mill-C in Jeddah Plant After Completing an Expansion to Increase its Production Capacity

13 February 2024 08:04 AM

Element List

Explanation

Announcement Detail

First Milling Company is pleased to announce the launch of operations of its (Mill – C) in Jeddah Plant, along with the completion of its modernization as outlined in the prospectus. As anticipated, all relevant enhancements have been finalized by the end of the fourth quarter of 2023. This expansion is a direct outcome of the Company’s initiatives to enhance production capacity and solidify its leading position in the market. The upgrade of (Mill – C) will elevate the mill’s production capacity from 300 tons/day to 550 tons/day, consequently raising the production capacity ceiling in Jeddah Plant, the Company’s largest Facility in terms of daily production capacity, to reach 2,500 tons/day. The financial effects of this expansion are anticipated to be reflected in the Company’s financial performance for the first quarter of 2024G. For any further inquiries, please contact the Investors Relations Department at the email: [email protected]

First Milling Company Announces the Start of Operation of its Mill-C in Jeddah Plant After Completing an Expansion to Increase its Production Capacity