Elevator Solutions acquires 100% stake in Saudi Installations and Smart Elevators Companies

Mayar Holding Company announces that its subsidiary, "Elevator Solutions for Investment", has concluded a contract to acquire 100% of the Saudi Installations, Operations and Maintenance Company for Contracting and 100% of the Smart Elevators Company and signed a binding purchase agreement.

The acquisition aims to:

- Strengthen the market share of Elevator Solutions for Investment Company.

- Provide integrated solutions to the company's customers and diversify the company's product portfolio.

- Diversify the company's elevator product basket.

- Increase the company's share in the Saudi elevator market.