The Clap
Sami Safran, CEO of MEPCO (1202), revealed that MEPCO’s local sales averaged around 60% while foreign export sales reached around 40%.
What
Safran said that Saudi Arabia’s need for tissue paper has reached nearly 250,000 tons and up to 100,000 tons are supplied domestically.
He added that the company aims to meet the local demand in the jumbo tissue rolls sector to contribute to meeting KSA’s needs in this sector.
So What
MEPCO, which operates in the manufacture of cardboard and industrial paper, saw its net profit jump to SAR 271 million by the end of 2022 compared to SAR 221 million in 2021.
Now What
The CEO of the company believes that the decline in global paper prices is due to the political and economic conditions affecting demand and supply.
He does, however, expect prices to rise and take an upward trend.
