Saudi-listed Mohammed Hassan Al Naqool Sons Company has announced that its wholly owned subsidiary, Sadan Industrial Company, has signed an agreement to purchase 50 Daewoo trucks for SAR14.9 million ($4 million), as it expands its transportation and logistics business.
The acquisition will be financed through Sadan's internal resources and existing credit facilities.
The trucks will be supplied by Saudi Diesel Equipment Company and delivered in phases based on Sadan's operational requirements and market conditions, said Mohammed Hassan Al Naqool Sons in its filing to Saudi bourse Tadawul.
The acquisition will be financed through Sadan's internal resources and existing credit facilities.
The purchase comprises 50 Daewoo trucks, model year 2026, which will be deployed in Sadan's transport and logistics operations.
The fleet expansion is aimed at meeting growing demand for transportation and logistics services, improving operational efficiency and supporting the company's growth strategy, it stated.
On the financial impact of the transaction, Mohammed Hassan Al Naqool Sons said it is expected to be reflected in the third quarter of 2026.-TradeArabia News Service
Send us your company’s news today and they could be featured on ABC’s Community News tommorow.
