VOL. XXXVII
NO. 16
17-JANUARY-1994
Saudi Arabia
SAFCO's Profits Continue To Fall
The Saudi Arabian Fertilizer Company (SAFCO) in 1993 reported a profit ofSR75mn ($20mn), down 33% from SR111.8mn ($29.8mn) in 1992, according to thecompany's results announced at the beginning of 1994. The company attributed thedecline in profitability to a fall in the international prices of urea andmelamine and lower SAFCO exports to East Europe and Russia which are currentlyfacing economic hardships. The company...
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