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state-owned investment firm Temasek and London-based private equity firm Metric Capital Partners for $200mn in 2018.
Dimes, one of Turkey’s largest fruit juice producers, said it has signed an agreement with China Eastern Airlines to provide the carrier with orange juice refreshments for five years. Under the agreement, China Eastern, the world's seventh-largest air carrier, will serve Dimes products to first class and business class passengers.
China Eastern operates a fleet of over 750 aircraft which provide around 3,000 daily flights to 1,150 destinations in 175 countries and regions. The carrier transports around 130mn passengers annually.
“We will provide some 600,000 tonnes of orange juice in the first year which will generate around Turkish lira 5mn in revenues,” Aydin Gocen, a manager at Dimes, told state-run news service Anadolu.
Gocen said that Demis exports around 10% of its output to over 100 countries and that the company had been looking for outlets in China to market its products.
Turkey’s leading dairy company Yasar Group has officially opened a processed cheese plant in the United Arab Emirates in which it has invested $30mn. Yasar said it would be producing its first “Made in the UAE” cheese at the new complex, located at KIZAD (Khalifa Industrial Zone Abu Dhabi).
The facility has the capacity to produce approximately 30,000 tonnes of cheese per year. The next couple of years should see the company double that figure.
The plant is UAE’s first processed cheese plant.
Products made at the facility will be sold primarily in the Middle East and North Africa while there are several potential markets elsewhere, Yasar said in a statement, adding that it was also currently looking at opportunities for further manufacturing facilities in the Middle East.
Yasar has been selling its products on Middle Eastern markets for over 35 years. It opened its head office to coordinate operations in the region in Dubai’s Jebel Ali Free Zone in 2000.
Founded 70 years ago, Yasar also operates in the tourism, foreign trade and energy sectors but its main focus is food and beverages production. It has over 20 companies and around 25 plants.
9.2.7 TMT corporate news
● Turkcell
102 TURKEY Country Report December 2019 www.intellinews.com
