Agthia to set up new unit in Egypt
Abu Dhabi, March 10, 2008
Emirates Foodstuff and Water Company (Agthia) is setting up a state-of-the-art tomato paste and frozen vegetable processing plant in Egypt.
The plant is expected to be operational in the first quarter of 2009.
This new factory will more than triple the company’s output and will help in diversifying the product portfolio, a senior company official said.
“This move is intended to capitalise on the fast growing tomato paste and frozen vegetable categories, both in the UAE and international markets and further to tap into synergistic and profitable related products segments,” said Rashed Al Hajeri, the chairman of Agthia.
Agthia is a holding company listed on the Abu Dhabi Stock Market. 51 percent of the company shares are held by General Holding Corporation, an Abu Dhabi Government institution, with the balance held by the general public and institutional investors.
The current portfolio of the company consists of three well-established and successful companies: Al Ain Mineral Water, a leading producer of high-quality bottled mineral water; Grand Mills For Flour & Feed, a pioneer in the manufacturing and production of the highest quality flour and animal feed; Al Ain Vegetable Processing and Canning Factory, a leading manufacturer and marketer of tomato paste, canned and frozen vegetables. - TradeArabia News Service