NAFL, one of the affiliated companies of Nishat Group, has entered into a joint venture agreement with SÜTAŞ, one of the largest producers of milk and dairy products in Turkey, for the manufacturing, marketing and sale of premium dairy products in Pakistan and development of Pakistan’s dairy sector.
The agreement was signed at a ceremony held at Nishat Hotel, Emporium Mall, by Ms. Sadia Mansha, Executive Director NAFL on behalf of NAFL, and jointly by Mr. Muharrem Yilmaz, Chairman SUTAS and Ms. Aynur Duygu Yilmaz, Board Member SÜTAŞ on behalf of SÜTAŞ.
Mian Mohammad Mansha, Chairman Nishat Group, Mr. M. Izzet Karaca Board Member SÜTAŞ, Ms. Basak Karaca, Marketing Consultant SÜTAŞ, Ms. Naz Mansha, Chairperson DG Khan Cement Company Limited, Mian Hassan Mansha, Chairman, Lalpir Power Limited., Ms. Iqraa Hassan Mansha, Director Nishat Hotels and Properties Limited (Emporium Mall), and other dignitaries also attended the ceremony.
NAFL and SÜTAŞ will be setting up a manufacturing facility in Pakistan to produce a variety of premium dairy products, keeping in mind the dynamics of Pakistan’s Dairy sector and the current gaps in consumer demand. They have agreed to establish a Joint Venture Company with equal shareholding ratio, with the objective to produce, market, distribute and sell premium dairy products within the country. The Joint Venture Company shall be a public limited company incorporated under the laws of Pakistan with its registered office in Lahore, Pakistan.
Speaking at the event, Ms. Sadia Mansha, Executive Director NAFL said “We are pleased to be entering into this partnership with SÜTAŞ, one of Turkey’s premier business groups and a market leader in Turkey’s dairy sector. NAFL and SÜTAŞ share the common vision of providing high quality dairy products to consumers and are committed to manufacturing these products through sustainable, transparent and technologically innovative dairy farm practices. We strongly believe that this partnership will be beneficial for Pakistan’s dairy sector and will provide consumers with healthy, high quality and nutritious dairy products.”
SÜTAŞ is a leading brand of the Turkish dairy sector and is the preferred brand in three households out of four in Turkey. It processes 900 million liters of milk annually in its four production facilities located in Turkey, Macedonia and Romania and offers 77 different products to its consumers. SÜTAŞ employs 5,000 people with annual revenue of TL 2.6 billion.
NAFL is a part of the Nishat Group of companies, one of the region’s leading and most diversified business groups with its presence in textile, banking, insurance, cement, paper, power generation, dairy, agriculture, real estate, hotel business, and aviation sectors. Each Group company also has a committed and seasoned history of philanthropy and social responsibility to Pakistan.