02/March/2021 12:44 PM
In a deal worth $28.3 million, Siniora Food Industries acquires a 77% stake in the Turkish Trakya ET Co.
AMMAN, Tuesday, March 2, 2021 (WAFA) - Siniora Food Industries Company, a subsidiary of Arab Palestinian Investment Company (APIC) and a leading and fast-growing regional meat processing company, announced yesterday the acquisition of a 77% stake in Trakya ET meat manufacturing company in Turkey, the owner of the Polonez brand, in a deal worth $28.3 million.
Chairman of APIC and Siniora, Tarek Aggad, said that this acquisition is a unique addition to Siniora and came as part of the company’s growth strategy to increase its market share on a regional and global scale by expanding its production lines and targeting new markets.
In a deal worth USD 28 3 million, Siniora Food Industries launches its operations in Turkey by acquiring Trakya ET Co , the owner of Polonez apnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from apnews.com Daily Mail and Mail on Sunday newspapers.
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AMMAN, Jordan, Feb. 17, 2021 /PRNewswire/ Siniora Food Industries Company has released its preliminary consolidated financial results, as per the regulations of the Jordan Securities Commission for the year ending December 31, 2020. The financial statements showed that the Siniora group of companies achieved net after-tax profits of JD 7.1 (USD 10 million), an increase of 16% compared to 2019. Total revenues also increased, growing by 11% compared to the previous year, reaching JD 71 million (USD 100 million). The company s assets amounted to JD 68.8 million (USD 97 million) on December 31, 2020, an increase of 3% compared to the previous year, while the net equity of Siniora s shareholders amounted to JD 41 million (USD 57.7 million) on December 31, 2020, registering an increase of 12% over 2019.
Siniora Food Industries Company achieves a net profit of JD 7 1 million (USD 10 million) in 2020, a growth of 16% year on year apnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from apnews.com Daily Mail and Mail on Sunday newspapers.