Al Islami signs major Joint Venture for Pakistani Market at Gulfood
Neat Foods will be the sole partner of Al Islami in Pakistan
Dubai: Al Islami Foods, the leading Halal food company in the Middle East, today has signed a major joint venture with Neat Foods Private Limited to cater to the Pakistan’s growing fast food market, in an agreement signing ceremony held at Al Islami stand at Gulfood 2012.
The agreement spans over 10 years of time period and is automatically renewable for the next term as agreed between Al Islami and M/s Neat Foods Group from Pakistan.
Mr. Saleh Abdullah Lootah, Managing Director of Al Islami Foods, commented: “Our survey of Pakistan’s fast food market has shown very interesting potential for Pakistani market. We are committed to export the same highly 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 “.
The ceremony was attended by Mr. Saleh Abdullah Lootah, Managing Director of Al Islami Foods; Mr. Shafay Hussain, Chairman of M/s Neat Foods Pvt Ltd.; Mr. Hamid Badawi, Deputy Chief Executive of Al Islami Foods, Mr. Joachim Yebouet, Chief Operating Officer of Al Islami Foods, along with senior executives from M/s Neat Foods and Al Islami Foods.
Mr. Shafay Hussain, Chairman of Neat Foods, commented: “ 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”, and added “we are thankful to the trust of Al Islami Foods put forth on us and who chose us from a cluster of reputed brands in Pakistan. We will continue and strengthen this trust with the growth of Al Islami in Pakistan and in the whole Middle East region.”
Under the terms of the agreement, M/s 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. In addition, Neat Foods is constructing a state-of-the-art food production plant equipped with latest food production machinery from M/s Meyn Processing Technology from the Netherlands, which has a new technology to process 3000 birds per hour, which is expandable up to 6000 birds per hour.