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| Announcement Detail | Filling & Packing Material Mfg. Co. (FIPCO) is pleased to announce to its valued shareholders that it has been selected by Saudi Authority for Industrial Cities and Technology Zones (MODON) for its National Productivity Program Initiative - one of the Kingdom's Vision 2030 programs. |
According to the agreement signed between FIPCO and MODON on Monday 03 February 2020, FIPCO has complied with the criteria and standards set by the relevant authorities, namely MODON, Saudi Industrial Development Fund and King Abdulaziz City for Science and Technology.
Consequently, FIPCO has moved forward in implementing the program's initiatives aimed at enabling industry and enhancing national productivity Through providing studies and Digital transformation plans by a global technical partner.
This step will place FIPCO in the ranks of national companies contributing to the creation of a growing industrial environment and sustainable development.
This program aims to transform the Kingdom into a leading industrial power and an international logistics platform in a number of promising areas (focusing on the application of 4G technologies for industries), through developing infrastructure, expanding the implementation of digitization procedures; enhancing research, innovation; and training, and raising the efficiency of available cadres.
FIPCO assures that the aforementioned program includes FIPCO and its subsidiary, considering that expected outcomes scheduled to have positive future impacts to reduce operational costs, which are mainly reducing energy costs, reducing high employment numbers, improving levels of product quality, and discovering and treating errors, as the most important challenges that FIPCO is currently facing the high employment numbers of more than 1000 employees based on the nature of operations, reaching the annual salary of SR 38 million, in addition to the cost of electrical energy amounted to SR 7 million annually.
It is worth to mention that FIPCO with its belief in Saudi Vision programs, is strongly working with several official bodies to take advantage of these programs aimed at developing industry and supporting local content, especially with the local content and government procurement authority and the Ministry of Commerce and Investment and the Saudi Industrial Development Fund to achieve the benefit of those initiatives for FIPCO or its subsidiary According to the terms and conditions of those programs.
FIPCO is pleased to extend its sincere thanks to the masters of the National Productivity Program at MODON and all technical partner's staff for their efforts to support the national industry.
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