Saudi Chemical approves holding companies for healthcare, explosives

18/10/2023 Argaam

Saudi Chemical approves holding companies for healthcare, explosives

Logo of Saudi Chemical Co. Holding (SCCH)

Saudi Chemical Co. Holding (SCCH) board of directors approved on Oct. 17 a revamp of the ownership structure of its subsidiaries, according to a statement to Tadawul.

 

SCHC plans to achieve this by establishing a holding company for the healthcare segment and another for the military and civil explosives segment. 

 

The decision is part of its transformation strategy, the statement said, noting that SCHC is in the process of obtaining the necessary approvals.

 

Any updates will be revealed in due course, the company added.

 

In June 2020, SCHC said it completed the transformation program of its holding company, data compiled by Argaam showed.

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