Riyadh – Mubasher: National Metal Manufacturing and Casting Company’s (Maadaniyah) said it started the trial operations of its new stranded wire production line on 1 September 2016.
The company said it will start the commercial production by next November, noting that this move will have a positive impact on the company’s upcoming financial results.
In April 2015, the board had approved adding a new production line at a total cost of SAR 30 million, to be financed from loans and the company’s cash resources.
Net earnings for 2015 reached SAR 29 million, rising 41% compared with SAR 20.7 million a year earlier.
