Financial Daily from THE HINDU group of publications
Monday, Apr 11, 2005
Financial Daily from THE HINDU group of publications Monday, Apr 11, 2005 |
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Corporate
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Alliances & Joint Ventures Hindalco in pact with UAE co to make aluminium foils Vimala Vasan
Abu Dhabi , April 10 THE Abu Dhabi National Foodstuff Company (Foodco) has signed an agreement with Hindalco formalising a commercial relationship to produce the Wrap `n' Roll brand of aluminium foil rolls for distribution within the UAE and for re-export to the neighbouring markets. Foodco's Managing Director, Mr Ahmed bin Ali Khalfan Al Dhahery signed the agreement along with Hindalco's General Manager, Mr Debashis Pati at a meeting in Abu Dhabi, Foodco said in a statement today . "This commercial venture will ensure a steady and high quality supply of aluminium foil rolls to the UAE, while Foodco through its extensive distribution network and supplier base will undertake sales and marketing of Wrap `n' Roll aluminium foil rolls which will be produced to international specifications," said Mr Al Dhahery. The initial production run for Foodco will comprise 86,000 cases per annum of varying gauges from 12 microns to 19 microns and roll measurements would range between 7.7 metres and 61 metres. Mr Al Dhaery said that there was a considerable demand for high quality aluminium foil rolls in the UAE and the region from the corporate hospitality industry as well as end users. "There is a dearth of high quality aluminium foil rolls in the regional market and the companies that are supplying aluminium rolls are either of a very inferior grade or are too highly priced and this has created a vacuum in the market. We are positive that our agreement with Hindalco, who are the most cost-efficient producers of aluminium globally, will eventually benefit the regional consumer," Mr Al Dhahery remarked. Mr Pati said that the agreement is in line with Hindalco's corporate strategy to promote its product sand create new markets through pro-active partnerships. Foodco is a public shareholding entity that operates under the patronage of the UAE President Mr Sheikh Khalifa Bin Zayed Al Nahyan. The company is head quartered in Abu Dhabi with branches in Dubai and Al Ain.
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