Monday, Apr 07, 2008
BEIRUT (Zawya Dow Jones)--Saudi Industrial Development Co., or SIDC, said Monday it signed a memorandum of understanding with a local strategic partner that intends to buy a major stake in its ceramic plant.
SIDC will appoint a financial advisor to help it restructure the ceramic plant's capital before converting it into an independent company, SIDC said in a statement on the Saudi bourse Web site.
By Shikrallah Nakhoul, Zawya Dow Jones, +961 1 985757, shikrallah@zawya.com
Copyright (c) 2008 Dow Jones & Company, Inc.
(END) Dow Jones Newswires
07-04-08 1005GMT
