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Saudi Elevator Production Partnership Announced

Mayar Holding partners with China's Yuanda for tech transfer

by Huda Marshad
October 31, 2024
in Industry
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Mayar Holding Co. has announced a new partnership through its subsidiary, Gulf Elevators & Escalators Co. Ltd. The agreement is with China’s Shenyang Yuanda Intellectual Industry Group Co. to produce elevators and escalators in Saudi Arabia.

This collaboration aims to enhance and modernize existing production lines and facilitate the transfer of technology, along with intellectual and engineering expertise, according to a statement released to Tadawul.

Tags: Gulf ElevatorsMayar HoldingSaudi ArabiaShenyang Yuandatechnology transfer
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