Riyadh-Amlak
Al Hassan Ghazi Ibrahim Shaker Company (Shaker) has signed a contract with LG Electronics to extend the exclusive distribution of LG air conditioners in Saudi Arabia for another 3 years starting from January 1, 2014.
The company explained in a statement on Tadawul that the financial impact of the extension of this contract will appear on the company's financial statements, noting that its sales of LG air conditioners are equivalent to 73% of the company's total sales.
The basic distribution contract between Al Hassan Shaker and LG was signed in 1995, and the contract has been extended several times since then.