Riyadh — Mubasher: Mohammed Hasan Al Naqool Sons Company announced that its wholly owned subsidiary, Sadan Industrial Company, signed a purchase agreement valued at SAR 14.90 million.
Sadan aims to acquire 50 new trucks upon the deal that was signed with Saudi Diesel Equipment Company, according to a bourse filing.
The agreement excludes value-added tax and is part of the group’s strategic plan to expand its transport and logistics services.
AL Naqool clarified that the purchase deal involves the procurement of 2026 model Daewoo trucks.
Delivery will be conducted in phases, with Sedan for Industry determining the quantity required at each stage based on operational needs and market conditions.
The company stated that the acquisition aims to increase fleet capacity to meet growing demand and enhance operational efficiency.
Meanwhile, funding for the transaction will be sourced through the subsidiary’s internal resources and existing credit facilities.
Al Naqool noted that it expects the financial impact of the fleet expansion to begin appearing in its financial results during the third quarter (Q3) of 2026.
It further confirmed there are no related parties involved in the transaction.
Al Naqool recently invited its shareholders for an extraordinary general meeting (EGM) to be held virtually on 27 July 2026, where they will discuss a capital increase.
