Mayar’s subsidiary to manufacture elevators of Chinese firm in Saudi Arabia

Mayar Holding Co. said that its subsidiary, Gulf Elevators & Escalators Co. Ltd signed a partnership agreement with China’s Shenyang Yuanda Intellectual Industry Group Co. to manufacture its elevators and escalators products in Saudi Arbia.
The company will also upgrade and develop the current elevator and escalator production lines, and transfer technology, as well as intellectual and engineering knowledge, Mayar said in a statement to Tadawul.