Arab News, Saturday, Sep 17, 2022 | Safar 21, 1444
Saudi-based cable manufacturer establishes legal entity in Bahrain
Saudi Arabia:
Saudi Cable Co. has announced the
establishment of a new legal entity in Bahrain after more than 20 years of
operations in the market.
The firm signed the incorporation commercial
registration of Saudi Cable Co. Bahrain as a standalone legal company on Sept.
6, according to a bourse filing.
The move comes as a step toward the cable group’s
restructuring efforts.
“Establishing this new stand-alone legal entity at
this key market will support the financial stability of operations and
contribute to SCC's positioning and regional leadership,” the company said.
It added that it will reflect positively on its
sales and shareholders’ equity.