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22-Dec-2016

Sahara to establish Sahara Marketing company to sell and market their products

Sahara Petrochemical Company (Sahara) [2260.SE] has announced the establishment of Sahara Marketing Company, an affiliate that will be responsible for selling, marketing and exporting the company’s petrochemicals products. The new company is 100% owned by Sahara and has a capital of SAR500,000. Based on the release, Sahara Marketing Company will also look to market products for other companies. The release also adds that this is inline with the company's strategy to reduce marketing costs. (Tadawul)     Sahara Petrochemicals: SAR13.80 as of 21 December 2016, Rating: Neutral, TP: SAR10.50 per share, MCap: USD1,615mn, SPC AB / 2260.SE

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