Latest news with #Bawan
Argaam
23-03-2025
- Business
- Argaam
Bawan board proposes dividend freeze for H2 2024
Bawan Co. 's board of directors decided, on March 20, to withhold dividends for H2 2024, according to a statement to Tadawul. This came to boost the company's financial position, and achieve its strategic plans as well as transformational goals while developing its operational activities. Bawan paid a cash dividend at 6% of capital, or SAR 0.60 a share, totaling SAR 36 million for H1 2024, data compiled with Argaam showed.
Zawya
24-02-2025
- Business
- Zawya
Saudi-listed Bawan to build new high-voltage transformer plant
Bawan Company said that construction on the new high-voltage transformer plant of its subsidiary, United Transformers Electric Company, is expected to start in the first half of 2025. The first phase of the factory is likely to cost 80 million Saudi riyals ($21.33 million), the company said in a statement to the Saudi stock exchange. The project will be financed through Bawan's own resources and bank facilities. The total cost and location of the plant was not disclosed. The six-month trial production will start in the first quarter of 2027, with commercial production expected to begin in the fourth quarter of 2027. However, the construction contract has not yet been awarded, the statement said. (Editing by Anoop Menon) (
Argaam
24-02-2025
- Business
- Argaam
Bawan to build high-voltage transformers factory, first phase to cost SAR 80M
Bawan Co. 's board of directors approved, on Feb. 21, a project by United Transformers Electric Co. (Utec Saudi), a subsidiary, to set up a factory for manufacturing high-voltage transformers. The first phase of the factory is estimated to cost SAR 80 million, the company said in a statement to Tadawul. The project will be funded through the company's own resources and bank facilities, with construction slated to start in the first half of 2025. Trial production will start in the first quarter of 2027, which is anticipated to last around six months. Commercial production is expected to begin in the fourth quarter of 2027. The project will positively impact the company's financial statements. Bawan said no contract has been awarded yet, adding that key developments will be announced in due course. This project is part of Bawan's strategy to diversify products and achieve leadership and innovation in the electrical industry sector.
