Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

OFM plans expansion to increase market share  Join our daily free Newsletter

MENAFN - Muscat Daily - 02/09/2012

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - Muscat Daily) Oman Flour Mills (OFM) is planning to set up a new production facility in Sohar and increase the capacity of its poultry and industrial bakery subsidiaries in an effort to increase its market share locally and boost exports in the region.

OFM, which currently operates an 800-tonnes-per-day flour mill, will set up a new 500-tonnes-per-day facility in Sohar, adjacent to the silos being constructed by the government under the strategic food reserve programme.

''Our current flour mill is ageing and with strategic food reserves being built up in Sohar, setting up a new mill in Sohar was an automatic choice. The initial wheat milling capacity planned is 500 tonnes per day, with the capability of expansion to 2,000 tonnes per day. The company will continue to strengthen and develop the core businesses of flour and feed,'' said Ali Habaj, CEO of OFM, in the company's management report released on Sunday.

''Our marketing policies are geared to increase our share in the local flour and feed markets. With the re-introduction of government subsidy, the entry of flour to the local market from UAE and other countries has reduced, thereby increasing the market share of the company. In the local market, our flour sales have increased and we expect to continue increasing our market share. New export markets are being considered as traditional markets have become saturated,'' said Habaj.

According to the report, OFM is also looking to venture into the management of silos for strategic food reserves for which the company will receive a management fee.

OFM's subsidiary Modern Poultry Farms (MPF), which currently produces in excess of 100mn table eggs per year, is also planning to increase production capacity by 40 per cent. MPF's expansion will be in a new location in Ibri and is expected to ready by end of 2013.

Manal Mohammad al Abdwani, chairperson of OFM, said in the company report that the response to products of the new industrial bakery, which started trial production in February this year, has been positive and sales are increasing each month.

She said, ''Our market reach is being expanded and we plan to cover the whole country by September this year. This would also coincide with the completion of phase two of the industrial bakery, which includes variety and frozen products. We are also in talks with international franchise chains and UAE supermarkets to sell our bakery products.


 






  MENA News Headlines


 
Click to Apply






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help