Al Islami enters JV deal with Pakistan firm
Dubai, February 22, 2012
Al Islami Foods, a leading halal food company in the Middle East, today signed a joint venture deal with Neat Foods to cater to Pakistan’s growing fast food market.
The agreement, signed at the Gulfood 2012 exhibition, will cover a 10-year period and is automatically renewable.
Under the terms of the agreement, Neat Foods will be the sole partner of Al Islami in Pakistan to develop and re-export Al Islami products in Pakistan and in the international market.
Neat Foods will build a state-of-the-art food production plant equipped with machinery from Meyn Processing Technology, the Netherlands. The plant will process 3000 birds per hour, expandable to up to 6,000 birds per hour. – TradeArabia News Service
The ceremony was attended by Saleh Abdullah Lootah, managing director of Al Islami Foods, Shafay Hussain, chairman of Neat Foods and other senior executives.
“Our survey of Pakistan’s fast food market has shown very interesting potential for Pakistani market. We are committed to export the same high quality of products that we are offering in the GCC markets. We are very much confident that it is a good opportunity and time to enter Pakistan’s growing fresh and frozen food market," Lootah said.
Shafay Hussain, chairman of Neat Foods, said: “We are delighted to partner with such a reputed company of UAE. The synergy of two like-minded and Sharia compliant business groups will generate more potential for both the companies across the Middle East,” he said. - TradeArabia News Service