JEDDAH, 4 October 2004 — As a part of its international expansion program in the field of edible oils, Savola has recently entered the Central Asian market by acquiring a major stake (90 percent) in the “Turkuaz Edible Oils Industries” in Kazakhstan for a total initial investment of around $12.5 million (SR46.9 million). The new entity is currently named the Savola Kazakhstan Company. The plant — with 200 employees and a yearly production capacity of more than 25,000 tons of seeds — has got a crushing unit with a yearly crushing capacity of more than 45,000 tons of seeds. The company has its own registered and known trademarks in the local market. Besides, the company management is also working to develop new products in order to be launched in the local and the neighboring countries’ markets.
