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FINANCIAL NEWS
Saudi Almarai set to produce baby nutrition
29 Apr 2012
(MENAFN) Saudi Arabia’s largest food producer by market value Almarai is set to start producing infant formula next month through the International Pediatric Nutrition Co (IPNC), a joint venture with Mead Johnson, Arabian Business reported.
The company confirmed the completion of the construction of the new factory
in Al Kharj, scheduled to start producing in May.
Almarai added that a series of rigorous quality checks and verification processes would take place prior to production.
Last month, Almarai said it had raised its stake in a joint venture with PepsiCo to 52 percent from 48 percent.
Almarai last month reported a 2.9 percent increase in first-quarter profit to USD64.5 million from USD62.7 million a year earlier.
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