| Element List | Explanation |
|---|---|
| Introduction | Service Equipment Company announces the signing of an exclusive distribution agreement with Ravaglioli S.p.A – Italy, the owner of the RAVAGLIOLI brand, as part of the Company’s expansion strategy to strengthen its presence in the Saudi market. |
| Date of Announcement of the Award | 2026-02-16 Corresponding to 1447-08-28 |
| Contract Subject Matter | Under this agreement, Service Equipment Company has been granted exclusive distribution rights for RAVAGLIOLI products within the Kingdom of Saudi Arabia. The agreement covers a comprehensive range of vehicle service and maintenance equipment, |
| The Entity with Which the Contract was Signed | Ravaglioli S.p.A – Italy, a subsidiary of Vehicle Service Group (VSG), |
| Date of Signing the Contract | 2026-02-16 Corresponding to 1447-08-28 |
| Contract Value | The value of the agreement is contingent upon the volume and value of products purchased during agreement term. |
| Contract Details | Under this agreement, Service Equipment Company has been granted exclusive distribution rights for RAVAGLIOLI products within the Kingdom of Saudi Arabia. The agreement covers a comprehensive range of vehicle service and maintenance equipment, including: • Vehicle Lifts • Wheel Balancing Machines • Wheel Alignment Systems • Vehicle Inspection Lines • Tire and Wheel Service Equipment • Other Vehicle Service-Related Solutions |
| Contract Duration | Three years, starting from the date of signing the agreement. |
| Financial Impact and the Relevant Period | The positive financial impact of the agreement is expected to be reflected during agreement term, subject to the volume of products sold under the agreement. |
| Related Parties | N/A |
| Additional Information | This agreement aligns with the Company’s strategy to enhance its product portfolio by partnering with a leading European manufacturer of vehicle lifting and service equipment, thereby supporting business growth and strengthening its competitive position in the Saudi automotive service equipment market. |