Qomel inks MoUs with NUPCO, UK firms to enhance supply chains

Qomel Co. signed two non-binding, non-exclusive memorandums of understanding (MoUs) on Sept. 3.

The first MoU was signed with National Unified Procurement Co. (NUPCO) and UK-based Waymade PLC, and the second with NUPCO and Nova Laboratories (UK), the firm said in separate statements to Tadawul.

Both MoUs set general frameworks to ensure supply continuity, improve supply-chain efficiency, grant Saudi Arabia priority in registering new products, and enhance knowledge and expertise exchange among the parties.

The MoUs span 12 months from the signing date and are extendable by mutual written agreement.

No material financial impact is expected during the MoU term and they do not create financial or contractual obligations on the parties, the statement added. The MoUs do not create a partnership or agency.

A joint working team will be formed within 14 days of signing to develop a detailed work plan and define roles; any subsequent definitive agreements will be disclosed upon signing.

Data and document exchange will comply with NUPCO policies and applicable regulations, including SDAIA and the National Cybersecurity Authority requirements.