SADAFCO acquires Polish dairy producer Mlekoma

Wout Matthijs, CEO of SADAFCO.
Updated 21 August 2018

SADAFCO acquires Polish dairy producer Mlekoma

In a move to enhance its milk powder supplier base, Saudia Dairy and Foodstuff Company (SADAFCO) acquired the Polish dairy producer Mlekoma through its subsidiary company SADAFCO Poland. The acquisition agreement grants the Saudi company an initial stake of 76 percent in Mlekoma Sp z.o.o and its unit Foodexo sp.z o.o (Mlekoma Group), a transaction valued at SR120 million ($32 million).
In Poland, the Mlekoma group owns two plants specialized in the production of powdered, condensed and fluid products as well as whole milk, cream, butter milk and fat filled powders. In addition, the group’s business activity involves an export business to Europe, Africa, the Middle East and the Far East.
As a result of the acquisition, the financial results for the next quarter of both parties will be consolidated under SADAFCO, as recently announced by the Saudi Stock Exchange (Tadawul). The terms of the agreement stipulate that the existing management board of Mlekoma will continue to serve their managerial roles under the new headship.
Wout Matthijs, CEO of SADAFCO, said: “This move comes out of SADAFCO’s resolute focus on remaining profitable, despite the numerous challenges we face in a highly competitive domestic market. The acquisition offers an option to purchase milk powder from our own powder production facility, which offers both security of supply and remains flexible within the global market.
“We view this acquisition as an opportunity to ensure Saudia-branded products remain in the forefront in the consumers’ minds and continue to contribute to the overall Saudi economy’s growth long into the future.”

Role of Indian engineers in KSA lauded at IEF meet

Updated 17 July 2019

Role of Indian engineers in KSA lauded at IEF meet

Indian Engineers Forum (IEF) Jeddah Chapter recently held its 13th annual general meeting at Hotel Ramada Continental.

Ambassador of India to Saudi Arabia Dr. Ausaf Sayeed graced the event as chief guest and Consul General of India Noor Rahman Sheikh was guest of honor. IEF President Mohammed Sayeeduddin presided over the function.

Expressing appreciation for the activities of the forum, Ambassador Dr. Sayeed recalled its foundation in 2016 during his tenure as consul general of India in Jeddah.

He lauded Sayeeduddin, Amir Khan, Shuja Sheriff and other members and engineers for the activities of the forum and their contribution to the development of Saudi Arabia. Dr. Sayeed highlighted scarcity of water as an acute problem in the world in general and in India in particular. He shared his experience of interacting with engineers in the US, who developed a water condensation machine to extract water from humid air.

Consul General Noor Rahman Sheikh applauded IEF for its services to the engineering community in Saudi Arabia. He highlighted how the excellence of Indian engineers in each sector has impacted society. 

“Our zeal to be the best in whatever we do was demonstrated during last year’s Hajj. The mobile app developed by the Consul General of India is going to help the 200,000 pilgrims expected to come this year,” he said.

Amir Khan, founder and chairman of IEF, said IEF provides a platform for networking, career advancement, community service, and technology exchange. He urged Indian engineers to play a vital role in the development of Saudi Arabia, which he said would help strengthen the relations between India and the Kingdom.

Sayeeduddin thanked Dr. Sayeed for his support in the foundation of IEF. He announced that, having served as founding president for the last 13 years, he is now stepping down and the new president, unanimously elected, will be Khan Mustafa.

Nadeem Ahmed Ali, executive member of IEF, delivered a presentation on digital disruption.

Syed Nasir Khursheed, IEF general secretary, conducted the program.

Indian real estate advisory firm/ institutional channel partner 360 Realtors LLP participated in the event and were the main sponsors. A presentation covering major construction, residential and commercial projects in India was made by S. K. Vivek Kumar, head of international sales, 360 Realtors. Amit Hariyal also delivered a presentation on residential projects across the Indian cities of Bangalore, Chennai, Hyderabad and Pune. 

Abdul Rahman, general manager of TA Infra Projects, expressed happiness to be part of the IEF.

Khader Memon made a presentation titled “Special Investment Plan.”

The chief guest, guest of honor and sponsors were presented mementoes as a token of appreciation by the IEF president and executive committee. This was followed by the release of the annual magazine of the forum, Spectrum 2019, edited by Muazzam Sayeed.

A lively session of quiz was conducted by Munnawar Amafh. 

The event was attended by a number of guests from across the Kingdom, including Abdul Haseeb Hazari, Danish Ghafoor, Siadat Ali Khan, Shameem Kausar and Ahmed Omais.

The program started with a recitation of the Holy Qur’an by Talha Khan. Ashraf Nawaz Qureshi, IEF treasurer, welcomed the guests.

IEF Vice President Abu Bakar Sherkhan introduced the chief guest while Mohammed Shoebuddin, IEF chief coordinator, presented a vote of thanks.