Tanmiah Food Company and Tyson Foods Strengthen Strategic Partnership at Saudi Arabia Event

Rhea-AI Summary

The Tanmiah Food Company and Tyson Foods met in Jeddah to reaffirm their strategic partnership initiated in 2022, focusing on poultry demand in Saudi Arabia and the Middle East. The collaboration aims to enhance food security and economic growth in the region, targeting an increase in processing capacity through joint investments. Tyson and Tanmiah anticipate boosting production at Supreme Foods Processing to nearly 100,000 metric tons annually. Key executives emphasized the importance of meeting local demand, particularly for Halal products, and creating job opportunities in the Makkah region.

Positive

• Strategic partnership aims to increase poultry processing capacity to nearly 100,000 metric tons annually.
• Focus on Halal food market creates potential for future growth.
• Partnership supports Saudi Arabia's food security and economic goals.
• Will generate hundreds of jobs in the Makkah region.

Negative

• None.

RIYADH, Saudi Arabia, Feb. 22, 2023 /PRNewswire/ -- Saudi-based Tanmiah Food Company ("Tanmiah" or the "Company", 2281 on the Saudi Exchange) and US-based Tyson Foods, Inc. (NYSE: TSN) met this week in Jeddah to recognize their strategic partnership made in 2022 including the potential growth opportunities across the Kingdom of Saudi Arabia and the broader Middle East.

Senior leaders from each company were joined at the event by esteemed Saudi government guests including Vice Minister, H.E. Eng. Mansour bin Hilal Al Mushaiti, of Environment, Water and Agriculture, and Deputy Eng. Albader bin Adil Foudah of Ministry of Industry and Mineral Resources, in addition to U.S. Consul General in Jeddah, Faris Asad and Commercial Counsul, Julie LeBlanc.

The partnership is well positioned to help sustainably meet the growing demand for poultry in the Kingdom, while also supporting the Kingdom's food security goals and economic growth. As one of the world's leading food companies, Tyson Foods is committed to providing protein to a growing population across the Middle East.

The companies discussed the growing Halal food market and the opportunities it presents to unlock future growth for the partnership. Both companies also discussed future expansion plans to increase the processing capacity of the Supreme Foods Processing Company. As per the partnership agreement, Tyson Foods and Tanmiah will be jointly investing in the expansion of further processing capacity. The expansion is anticipated to increase the total production capacity of Supreme Foods Processing to nearly 100,000 metric tons annually.

Zulifqar Hamadani, CEO, Tanmiah Food Company, said, "It was an honor to welcome our partners at Tyson Foods to the Kingdom as we build momentum following the recent signing of our strategic partnership that will unlock growth across the Kingdom and improve access to high-quality processed poultry products. We also believe the partnership strengthens our commitment to supporting the Kingdom's food security and self-sufficiency goals."

Ahmed Osilan, Executive Board Member & Managing Director, said, "This partnership will contribute to food security goals and bring global expertise, standards and technology to the Saudi poultry market, supporting the Kingdom's non-oil economy while also generating hundreds of jobs in the Makkah region."

Amy Tu, President, International and Chief Administrative Officer, Tyson Foods, said, "Tyson Foods is pleased to be partnering with Tanmiah in the Kingdom of Saudi Arabia to address the importance of food security. A key part of our strategic plan is to meet the growing global demand for protein and to serve customers and consumers with products tailored to the local market and region. Our partnership with Tanmiah Food will allow us to address that plan, especially the growing demand for Halal food. We are excited to build a long-term partnership and drive future economic activity in the Kingdom."

TAN Sun, President, Tyson Foods Asia Pacific, said, "We are committed to working together to drive operational excellence and deliver high-quality poultry products across the region. We are aligned on the need for future expansion across the value chain and improvements to production processes. We look forward to further collaboration."

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SOURCE Tanmiah Food Company

FAQ

What is the purpose of the Tanmiah and Tyson Foods partnership?

The partnership aims to enhance poultry processing capacity, meet growing demand, and support food security in Saudi Arabia.

When was the Tanmiah and Tyson Foods partnership established?

The strategic partnership was initiated in 2022.

What is the expected production capacity increase for Supreme Foods Processing?

The partnership expects to increase processing capacity to nearly 100,000 metric tons annually.

How does this partnership impact the Halal food market?

The partnership aims to tap into the growing Halal food market, providing tailored products to meet local demand.

What economic benefits does the Tanmiah and Tyson Foods partnership bring?

The partnership will contribute to food security and create hundreds of jobs in the Makkah region.