SADAFCO seeks access to Syrian markets
The Saudi Dairy & Food Company (SADAFCO) recently announced it is considering entering Syrian markets, reported Al-Hayat. Board of Directors member Ahmed Marzouqi confirmed that SADAFCO is interested in broadening its clientele base.
Two years ago, SDAFCO invested $16 million to establish the Egyptian Dairy and Food Company (EDAFCO) and just last year signed a strategic joint venture with a Lebanese company.
A $10 million deal has recently been signed between SADAFCO and the Al-Ahram Beverages Company. Al-Watan reported that under the agreement, SADAFCO will distribute Al-Ahram’s non-alcoholic barley drinks, particularly the Fayruz brand, throughout Saudi Arabia, Kuwait, Qatar and Bahrain.
In March of 2000 SADAFCO was transformed into a stock company, with a capital value of SR 325 million ($87 million). — (Mena Report)
© 2001 Mena Report (www.menareport.com)