Kuwait-based paper manufacturer Shuaiba Industrial Co said yesterday in a bourse filing it had won a KWD335,000 (US$1.2m) contract to supply cement bags to an unnamed Saudi cement firm. The contract is valid through 2011.

In early February, Shuaiba Industrial Co said its net profit dropped to KWD1.2m in 2010 from KWD1.67m a year earlier.