Warehouse fire at Saudi-listed SPIMACO's joint venture ENAYAH

The company, which manufactures single use medical products such as surgical gowns is insured according to a bourse filing

  
Image used for illustrative purpose. A small stack of products in boxes sitting on a manual pallet jack in a loading dock door at a distribution warehouse.

Image used for illustrative purpose. A small stack of products in boxes sitting on a manual pallet jack in a loading dock door at a distribution warehouse.

Getty Images

Saudi-based Arabian Medical Products Manufacturing Company (ENAYAH) suffered a warehouse fire last week, but is insured against the incident, according to a bourse filing today (Sunday).

There were no human injuries caused by the fire in a Riyadh-based warehouse owned by ENAYAH, which is a joint venture 51 percent owned by the Tadawul-listed Saudi Pharmaceutical Industries and Medical Appliances Company (SPIMACO).

“It is noteworthy that the warehouse has insurance coverage for such incidents,” SPIMACO said in a statement to Tadawul.

“The financial impact of this fire will be announced later after the issuance of the civil defense report and the loss adjuster report.”

SPIMACO announced last year that it had signed a memorandum of understanding to be the distributor of German COVID-19 vaccine CureVac in the kingdom, with the option to extend to the UAE, Kuwait, Oman and Bahrain.

(Writing by Imogen Lillywhite; editing by Daniel Luiz)

imogen.lillywhite@refinitiv.com

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