Riyadh Steel Company has established a strategic planning committee, following a decision by its board of directors, the company announced in a stock exchange filing.
The committee’s primary focus will be to identify the most effective investment opportunities by evaluating available options, merger and acquisition proposals, and other strategies aimed at boosting the company’s competitiveness, financial sustainability, and overall growth.
The committee members include Khalid bin Hamad Al-Yahya, Abdulkarim bin Ibrahim Alnafie, Maan bin Hamad Al-Jasser, and Ahmed bin Abdulkarim Alnafie. Its mandate will end with the current board’s term on January 17, 2027.
Riyadh Steel also noted that this decision does not have any immediate financial implications, and further developments will be communicated in due course.
Riyadh Steel has a total annual capacity of 220,000 tons of sheared scrap, 105,000 tons of billets, and 90,000 tons of angle and flat bars.
