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Nishat Group enteres into a joint venture agreement with SÜTAŞ

Staff Reporter

LAHORE:  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. MuharremYilmaz, Chairman SUTAS and Ms.
AynurDuyguYilmaz, Board Member SÜTAŞ on behalf of SÜTAŞ. Mian Mohammad
Mansha, Chairman Nishat Group, Mr. M. IzzetKaraca Board Member SÜTAŞ,
Ms. BasakKaraca, 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
an 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.

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