FILLING & PACKING MATERIAL. MFG. CO. (FIPCO) is pleased to announce that SAMAH's Credit Rating Agency (Tassnief) has assign on 06th Dec. 2018 BBB+ Rating of the investment grade to FIPCO, with stable outlook.
According to Tassnief, the rating was based on some positive fundamentals, for example but not limited to the following:
1- Well-established historical operation model for FIPCO in the field of filling and packing materials has strongly reflected on FIPCO strong market position and brand.
2- Efficiency, quality, competitive advantages and deep knowledge of the nature of its industry ensures that it will be able to obtain orders from customers in the market continuously and repeatedly to reach the largest market share, thus enhancing the chances of growth and sustainability.
3- FIPCO plans to export most of its main products in line with the ambitious vision of the Kingdom 2030.
4- Diversification of income through investment in other industrial sectors related to the company's main areas of activity, Consequently FIPCO has launched its latest project of technical textile through its subsidiary (FPC Industries Co.), which is expected to contribute in increasing FIPCO turnover.
5- Logistics facilities arising from the geographical location of FIPCO locally, regionally and globally.
6- The current position of capital structure and liquidity.
As well as other factors related to risk management, governance, administrative efficiency and balanced strategy.
The Managing Director, Mr. Faisal Bin Mohammed Al Harbi said that this classification is the first of its kind in the Kingdom at the level of transforming industries companies, and the credit rating obtained by PIPCO is one of the best at the level of industrial companies based on the foresaid factors.