Logo of Aqaseem Factory for Chemicals and Plastics Co.
Aqaseem Factory for Chemicals and Plastics Co. launched operations at its UAE-based plant, Aqaseem Arabia Oil Manufacturing LLC (sole proprietorship), with an annual production capacity of approximately 8,000 tons.
The move is expected to increase the company’s production capacity by around 32%, the company said in a statement to Tadawul today, Dec. 31.
It is anticipated to have a positive impact on Aqaseem’s current sales of nearly 25%. This is in addition to an almost 17% uptick in operating profits.
The financial impact of this expansion is likely to appear in the company’s financial results in the first half of 2024, the statement added.
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