ZAWYA-NEWS: Saudi’s FIPCO secures $23mln deal from SABIC

+0.61%

-1.10%

SABIC

2010.SA

57.85

+0.61%

SAUDI ARAMCO

2222.SA

26.86

-1.10%

First published: 03-Mar-2026 09:03:21

Staff Writer

Saudi Basic Industries Corp. (SABIC) has signed a deal worth SAR 86.75 million ($23.13 million) with Filling & Packing Materials Manufacturing Co. (FIPCO).

The three-year contract is for FIPCO to manufacture and supply large woven plastic bags, commonly known as "jumbo bags".

The positive financial results from the deal are expected to show in FIPCO’s reports starting in the first quarter of 2026.

For the nine-month period ended September 30, 2025, FIPCO posted SAR 182.7 million in sales, up by 2.47% from a year earlier. Despite the revenue growth, the company swung to a loss of SAR 17.9 million during the same period.

(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com

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