Ajinomoto to Establish Sales Subsidiaries in Egypt and Turkey
The new subsidiary in Egypt will be established to build the food products business centering on consumer foods in the Egyptian market, with an eye to broader expansion in North Africa in the future.
6/10/2011 --- Ajinomoto Co., Inc. (Ajinomoto) announced that it has decided to establish two new subsidiaries in mid-July to supply seasonings and processed food products to consumers in Egypt and Turkey. With the establishment of these companies, Ajinomoto will plan and implement a full-scale entry into the markets of the Middle East and Africa, which follow the ASEAN region and South America in terms of growth.
Strengthening and expanding the overseas consumer foods business is one of the key principles of the 2011-2013 Medium-Term Management Plan aimed at making Ajinomoto a genuine global company. To accomplish this, Ajinomoto is planning to make forays into new regions and business areas while strengthening its existing businesses. Egypt and Turkey are two of the largest potential markets in the growing Middle East market, and both will serve as bases from which Ajinomoto can develop markets in neighboring countries in the future.
The new subsidiary in Egypt will be established to build the food products business centering on consumer foods in the Egyptian market, with an eye to broader expansion in North Africa in the future. Here, Ajinomoto plans to create a seasonings and processed foods business by leveraging its direct cash sales know-how in the ASEAN region and its production bases in Europe, South America and Asia.
The subsidiary in Turkey will concentrate on seasonings for restaurants, using Ajinomoto Group production bases in Europe and Asia and the South American sales model. It will begin sales in Turkey, with a view to possible expansion into Iran and other markets in the Middle East and Central Asia.
