+33 680 38 14 46
Saudi banana trading firm sets up Philippine arm
Saudi Arabia
Monday 02 June 2008
"We are targeting to haul 10 to 12 million boxes a year of Mindanaos fresh banana" said ANZ spokesperson Sheik Adnan Zainy.
Jeddah-based banana trading firm Abbar and Zainy (ANZ) formally opened an office here of its Philippine arm, Aztropex Inc. ANZ spokesperson Sheik Adnan Zainy ANZ poured US$30 million into the operation of Aztropex and would invest another US$30 million over the next three years to boost Aztropex's banana trading business in Mindanao. ANZ previously worked solely through Unifruitti Philippines, Inc., a multinational fruit export company.
Zainy said the company was not severing its ties with Unifruitti, which has lasted for 13 years. "Our relationship with Unifruitti is very good", he said. "We are significant partners. ANZ is just looking at all options." Zainy added that Aztropex would not compete with Unifruitti because the bananas it would buy would go to the Middle East, while Unifruitti serves mainly Japan and China.
He also said ANZ wanted to develop its Philippine sourcing amid the growing demand for Philippine bananas in the Middle East. "We are targeting to haul 10 to 12 million boxes a year of Mindanaos fresh banana", he said. Zainy also told reporters here that the company planned to develop its own plantations in the future to lessen its dependence on Unifruitti.
Jeddah-based banana trading firm Abbar and Zainy (ANZ) formally opened an office here of its Philippine arm, Aztropex Inc. ANZ spokesperson Sheik Adnan Zainy ANZ poured US$30 million into the operation of Aztropex and would invest another US$30 million over the next three years to boost Aztropex's banana trading business in Mindanao. ANZ previously worked solely through Unifruitti Philippines, Inc., a multinational fruit export company.
Zainy said the company was not severing its ties with Unifruitti, which has lasted for 13 years. "Our relationship with Unifruitti is very good", he said. "We are significant partners. ANZ is just looking at all options." Zainy added that Aztropex would not compete with Unifruitti because the bananas it would buy would go to the Middle East, while Unifruitti serves mainly Japan and China.
He also said ANZ wanted to develop its Philippine sourcing amid the growing demand for Philippine bananas in the Middle East. "We are targeting to haul 10 to 12 million boxes a year of Mindanaos fresh banana", he said. Zainy also told reporters here that the company planned to develop its own plantations in the future to lessen its dependence on Unifruitti.
