ASMAK demonstrates stellar growth momentum ahead of Gulfood 2019
MENA’s leading provider of fresh and frozen seafood has big plans following a hugely successful 2018
Dubai – 14 February 2019: ASMAK, the leading provider of fresh and frozen seafood across MENA, will exhibit its selection of seafood products and food services at the 24th edition of Gulfood - the world’s largest annual food and beverage trade exhibition. The brand’s attendance at the event comes as ASMAK sharpens its focus on foodservice and seafood retail channels in MENA and across new global markets.
As the Middle East’s leading seafood enterprise, with a fast-growing footprint across the GCC, ASMAK will present its wide-ranging portfolio of food solutions and services to over 98,000 visitors from 193 countries at Gulfood 2019.
The engaging Asmak stand will invite attendees to sample a variety of products. A live tasting area is set to delight the appetite with new recipes and demonstrations showcasing the freshness of ASMAK’s products. The stand is fitted with ice-top displays and built-in refrigerators, along with a meeting corner to exhibit the brand’s fresh, frozen, and value-added seafood products for all global B2B and B2C customers.
This year, the five-day Gulfood event will be held at Dubai World Trade Centre (DWTC) from February 17-21, under the theme of 'The World of Good, The World of Food' to focus on the diversity of global food and culinary excellence, as showcased by industry leaders.
“It’s an exciting time for our organisation because demand for nutritious, reliable and convenient seafood is at an all-time high. That is why we’re growing our global processing and distribution channels so we can offer a greater variety of seafood products, all of which maintain the high standards consumers expect from ASMAK. As exhibitors at Gulfood 2019, we aim to develop stronger ties with trading partners in the region and around the world to reinforce our position as a leader in the seafood industry,” commented Mamoon Othman, ASMAK Chief Executive Officer.
“To meet these objectives, we are transforming our facilities, distribution and processing lines, with major investments locked in to not only meet demand for exceptional seafood but also offer tailored products for customers across the region. With a 15% compound annual growth rate over the last five years, ASMAK’s progress is driven by continuous portfolio expansion in fresh and frozen seafood varieties and by the increase of our footprint across MENA. We are excited to connect with industry leaders at Gulfood with the goal of boosting ASMAK’s regional and global competitiveness,” he added.
In 2018, ASMAK witnessed a significant growth rate of 26 percent, and is targeting to achieve a revenue of AED 1 billion by 2023.
The company’s future growth is supported by a series of ongoing developments, including the construction of a modern, state-of-the-art processing and distribution facility in Dubai Industrial City at a total capital cost of AED 125 million (USD 34 million). The facility is set to be operational in the third quarter of 2019 and will enable ASMAK to produce and trade 40,000 tons of seafood annually.
The new outpost will advance fresh seafood processing and freezing, fish smoking, breading, and high-end packaging to meet global standards of quality. ASMAK is also focusing on acquisitions of processing facilities and key commodity supply access in source countries in order to build a centralised, fully integrated seafood supply chain management company, focused on the MENA region with global aspirations.
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