Saudi food group Almarai appoints new chief executive officer

SAUDI ARABIA – Almaria Company, the Gulf’s leading dairy company based in Saudi Arabia has appointed Mr. Majed Mazen Nofal as its Chief Executive Officer, effective 1st January 2020. As part of the company’s succession plans, the current acting CEO Mr. Georges P. Schorderet will handover to Majed Nofal on 31st December 2019 and continue to serve as an Advisor to the Board of Directors. Schorderet took over the position on July this year following the resignation of former CEO Mr. Alois Hofbauer, who according to the company stepped down…

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Saudi food company Almarai secures US$100m funding to expand subsidiaries

SAUDI ARABIA – Almaria, the Gulf’s leading dairy company based in Saudi Arabia, has secured US$100 million funding from the European Bank for Reconstruction and Development (EBRD) to boost operations of its subsidiaries. Almaria intends to use up to US$90 million of the proceeds from the loan to fund its dairy and juice production capacity expansion for its subsidiary in Egypt, Beyti. The dairy and juice company has also earmarked US$10 million for Teeba in Jordan to strengthen its capital base and fund its permanent working capital needs. EBRD said…

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GEA partners with Almarai Company to build a modern dairy factory in Saudi Arabia

SAUDI ARABIA – GEA, one of the largest suppliers of technology for the food processing industry, has worked with Almarai Company in Saudi Arabia to build the nation’s largest and most modern dairy processing facility. Almarai Company is the the largest dairy company in Saudi Arabia by market value. The new plant at Al Kharj includes multiple production lines for a wide range of milk and yoghurt products. GEA added that it has the capacity to process two million liters of milk a day, and that the project has already…

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