UAE-based Exeed Industries, the industrial arm of National Holding, has signed an agreement with Vivartia, a top dairy food company in Greece, for setting up a dairy, juice and tea processing plant in the UAE.

In the first phase of the joint venture, Exeed Industries will import Vivartia products and services from its existing pipeline, as well as new products specifically designed and formulated for the Middle East regional market needs.

The dairy, juice and tea processing plant will be built in Al Ain on a total land of 160,000 sq m, using the latest technology in manufacturing and packaging that ensure high quality products for the consumer. The plant will annually produce 60 million liters of dairy products and 24 million liters of fresh juices.

The new company will initially cater to target market of approximately 4.7 million consumers locally, while the scope of the MoU has a geographical span that encompasses an excess of 100 million potential consumers in the Middle East region.

Dr Kamel Abdullah, chief executive officer of Exeed Industries, said: 'Vivartia holds world-class expertise in high quality dairy, juice, tea and food products and services. Its industry know-how is backed by innovative R&D, manufacturing, distribution and brand development in the food sector within which it operates.”

“Vivartia’s success is evident in its status as the number one market leader across all verticals under its portfolio.'

Yannis Artinos, chief executive officer, Vivartia, said: 'The two groups share an exceptional fit in terms of skills and corporate values. Vivartia’s expertise is complementary to Exeed Industries, and we share Exeed’s commitment to focus on growth segments in the food and agricultural sector.”

“We look forward to jointly creating a world class company that will satisfy the needs of Middle East consumers through offering high quality and healthy food and beverage products.' – TradeArabia News Service