Turkish FMCG to invest $150 million in Pakistan, starts operations
Hayat Kimya Group, a well-known Turkish fast moving carrier goods company has started its operations in Pakistan.
The company announced that it will be bringing in an investment of as much $150m through its business after it started operating in Pakistan just recently. The company specializes in the production of hygiene and homecare related products and at least three of its products namely Molfix (a baby diapers brand), Papia/Familia (a toilet/tissue paper brand) will be made available in the Pakistani markets.
While announcing the venture in a press release, the company said that the Pakistani market had a huge potential for the company’s business. M. Avni Kigili, who is the current Chief Executive Officer at Hayat Kimya, mentioned, “Pakistan has a sentimental value for Hayat, because of the historical brotherhood of our countries. Hayat Kimya has great confidence in Pakistan, following our initial investment in Pakistan, we project to continue our investment of 150 million USD.”
Shedding light on its future plans, the company mentioned that it plans to expand in South Asia through Pakistan. Erdem Dumanoðullarý, who will be serving as General Manager Hayat Pakistan, mentioned, “As Hayat Pakistan, we will do our best to deliver the accumulated experience, high-quality, high-technology products brought by Hayat. We would be pleased to contribute to employment, export and business opportunities in Pakistan.”
Molfix, a subsidiary company of Hayat Holding, is the world’s fifth largest producer of baby diapers while the Hayat itself is the largest tissue manufacturer in the Middle East, Eastern Europe, and Africa. The company has its headquarters in Turkey and has 9 subsidiaries around the world with strong presence in Turkey, Iran, Nigeria, Morocco, and Egypt.
Featured Image via Daily Times