Emirates Food Industries to partially float on Abu Dhabi exchange - WAM

Abu Dhabi based company manages the manufacturing and supply of animal feed and milk

  
Investors monitor screens displaying stock information at the Abu Dhabi Securities Exchange June 25, 2014. Image for illustrative purposes

Investors monitor screens displaying stock information at the Abu Dhabi Securities Exchange June 25, 2014. Image for illustrative purposes

REUTERS/Stringer

Emirates Food Industries plans to partially float its shares on the Abu Dhabi Securities Exchange, aiming to expand its operations to support the country's programme for food security, state news agency WAM reported on Sunday.

"We have set an ambitious five-year plan to achieve rapid growth by expanding production scope in the group and investing in the development of this industry," said Wasfi Kasu, CEO of Emirates Food Industries, owned by Abu Dhabi's National Holding.

The Abu Dhabi based company manages the manufacturing and supply of animal feed and milk.

The company is currently establishing a factory to produce and process dairy products in Al Ain, which will start operating in the first quarter of 2022, the news agency said.

(Reporting by Ahmad Elhamy; editing by David Evans) ((ahmad.elhamy@thomsonreuters.com; +201023399104; Reuters Messaging: ahmad.elhamy.thomsonreuters.com@reuters.net))


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