Doha, 6 March 2013: Qatar Company for Meat & Livestock Trading, Mawashi, held today its extraordinary general meeting at the Diplomatic Club in Doha, Qatar.
Shareholders and members of the board agreed to change the name of the company to become Widam. Widam is an Arabic name that is deeply-rooted to the Qatari culture and its culinary heritage.
The rebranding of the company strongly accentuates the company's strategy and vision to expand its business and tap into new industries and markets to serve the country's long-term food security objectives.
Attendees also approved the amendment of article #30 of the company's articles of association whereby board members can be elected for 3 consecutive years with the possibility to renew it more than once. Despite that, the same member cannot remain on the board for more than 3 consecutive rounds. However, the chairman of the board can assume his position for 5 years with the possibility to get re-elected for another round that does not exceed 11 years.
Mr. Ahmed Nasser Sraiya Al Kaabi, Managing Director and Chief Executive Officer of Widam said: "The rebranding of Mawashi to become Widam is the outcome of a series of internal discussions we carried over the past few months based on our firm belief that it is now the right time to further expand our horizons but embracing a name that has international appeal while remaining true to our Qatari identity and origin. This decision underlines our commitment to position Widam as the best and largest provider of food and food resources in the future without being associated, solely, with the business of red meat trading. This is also in line with our plans to start catering to market needs of poultry and, later on, seafood."
"Naturally, this change is a long-term process and exercise. We have several milestones in our path to fully rebrand as Widam across the board. This means that our partners and our stakeholders might still see the name Mawashi at some of our sales points and butcheries with the aim to, gradually, appear under the umbrella of Widam, hopefully, towards the holy month of Ramadan."
About Mawashi:
Listed on the Qatar Exchange, Qatar Co. For Meat & Livestock Trading (MAWASHI) - QMLS was founded in 2004 with the aim of meeting Qatar's market needs in meat and livestock. Mawashi is engaged in the trading in livestock, meat, animal feeds, and meat derivatives in addition to management of slaughterhouses.
The company transports livestock, fodder, and meat products to facilitate trade; manages the automatic and national slaughterhouses; owns a branch in Sudan for fodder and meat trade; and uses the latest technology in processing its products according to international standards and specifications. Mawashi's key pillars are freshness, quality and door-to-door delivery.
Mawashi moved from a moribund company, slated to be owned by the Government, to multi-million dollars in profit organization in a record time and has been recognized for excellence in quality at the 16th International Star for Leadership in Quality Convention at Paris, France in June 2012.
For more information, please contact:
Hala Kassab
Kamal Nasrallah
ASDA'A Burson-Marsteller, Qatar
T: +974 4 44239222
Hala.kassab@bm.com
Kamal.nasrallah@bm.com
© Press Release 2013
