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Eastern Pipes Assembly approves 2026 profit distribution
The Ordinary General Assembly of Arabian Pipes Holding Company for the Integrated Industry, in its meeting held on July 27, 2026, authorized the Board of Directors to distribute interim profits on a quarterly or semi-annual basis during the years 2026-2027. The assembly also approved key contracts with subsidiaries of the Wilspon Group, totaling more than 113 million SAR, including a three-month contract to purchase pipes from Wilspon Corp worth over 112 million SAR. Additionally, Ernst & Young was approved as the company's external auditors, and bonuses totaling more than 3.5 million SAR were allocated to Board members, with approval granted for an additional amount payable to auditors for extra audit services.
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