Global CEO FrieslandCampina and Chairman Engro Corporation meet with Prime Minister on Investment in Dairy Development
Islamabad, February 01, 2017 (PPI-OT): The global CEO of FrieslandCampina Roelof Joosten and Chairman Engro Corporation Hussain Dawood met with Prime Minister Nawaz Sharif where they jointly discussed possible opportunities to develop the dairy industry in the country through knowledge transfer and provision of nutritious value-added products amongst others. The Global CEO along with Hussain Dawood highlighted the need to explore partnership opportunities with the government to bring the local dairy industry at par with international standards and contribute to Pakistan’s dairy sector’s development.
FrieslandCampina is one of the world’s largest dairy companies owned by 19,000 member farmers, with annual revenues of more than EUR 11billion. FrieslandCampina provides dairy products to millions of consumer’s worldwide everyday through its expansive global footprint with activities in over 32 countries, exporting to over 100 countries and employing over 22,000 people worldwide. Their global brands cater to a wide spectrum of consumers across several categories including dairy based beverages, infant nutrition, yoghurt, desserts, butter and cheese. Some of its best-known brands include Friso, Frisian Flag, Peak, Dutch Lady, Alaska and Rainbow.
The Prime Minister of Pakistan – Mian Nawaz Sharif commented on the occasion of the meet and said: “We believe this transaction will be instrumental in positioning Pakistan as an attractive investment destination for global companies and encourage others to follow. I am hopeful that this partnership will allow the Pakistani population to enjoy a wider array of affordable, high quality dairy products for a healthier Pakistan. Improving the wellbeing of millions of our farmers is a cause that Pakistan has been focused on since its inception. I am convinced that this partnership will create tremendous long term value for our dairy farmers”.
Roelof Joosten, Global CEO Royal FrieslandCampina N.V. commented: “The partnership with Engro Foods will accelerate FrieslandCampina’s vision for 2020. I am really looking forward to working closely with Engro Corporation, Engro Foods and the Pakistani authorities on elevating the dairy sector to provide healthy and nutritious dairy products for the Pakistani market. Friesland also looks forward to working with the authorities to establish a level playing field in import and export of dairy products, for example by ensuring realistic and competitive import charges enabling import of value-added dairy products. This will contribute to the development of the whole country, benefiting consumers and dairy industry alike.”
“This is a defining moment for Pakistan and its dairy industry,” commented Mr Hussain Dawood, Chairman of Engro Corporation. “This partnership will enable us to benefit from the organizational knowledge of FrieslandCampina which is regarded as an industry leader in the dairy category. Together with the government and FrieslandCampina we aim to enhance our dairy development outreach and accelerate our work on improving the dairy sector. I am convinced that this partnership will create tremendous long term value for a broad category of stakeholders especially the Pakistani farmer and consumer.”
The discussion further revolved around the development of the dairy sector in Pakistan through alignment of federal and provincial food laws and implementation of national standards. The meeting also discussed the need to regulate the loose milk industry which is fraught with issues such as adulteration posing a health hazard for consumers and the subsequent requirement for introduction of minimum pasteurization laws to ensure provision of nutritious and healthy milk to consumers.
In December 2016 Engro Corporation (ECORP) entered into an agreement with FrieslandCampina for the sale of 51 percent of the Company’s shareholding in Engro Foods (EFOODS) in one of the single largest private sector Foreign Direct Investment (FDI) in Pakistan amounting to a total investment of USD 450 million (430 million Euros).With a spectacular track record of success spanning over a decade, Engro Foods has played pivotal role in offering Pakistani consumers hygienic, nutritious and affordable dairy products through its brands Olper’s, Tarang, Dairy Omung and Omore.
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Category: General Business News