Kwality Ltd., India’s leading dairy products processor, is shuttering its operations in Dubai following a marked slump in the global prices of skim milk powder (SMP) and anhydrous milk fat (AMF), the company has announced.
In a recent statement to the Bombay Stock Exchange (BSE), Kwality said that the decision was taken following a unanimous decision by the company’s board of directors at a recent meeting.
The closure of Kwality’s operations in Dubai, the statement said, will be undertaken “in a phased manner.”
The company is currently present in Dubai through a 100 percent owned subsidiary, Kwality Dairy Products DZE (KDPF) at Jebel Ali Free Zone.
When contacted by Arabian Business, an employee of Kwality’s headquarters in New Delhi said that nobody was immediately available to comment on the planned closure of the company’s operations in Dubai.
Kwality was originally set up as a backward integration unit of another company, Kwality Ice Creams India Ltd., before being acquired by a prominent India family in 2002. The company currently has six manufacturing units around India, which collectively have the capacity to handle 3 million litres of milk per day.
In addition to the UAE, Kwality exports to nearly 30 countries, including Japan, Seychelles, Bangladesh, Sri Lanka, Jordan, Niger and Morocco.
Pure Ice Cream Co LLC UAE
Kwality Ltd differs from Pure Ice Cream Co LLC UAE, which is the owner of the brand name ‘Kwality’ and has been selling its products in UAE and Gulf countries since 1978.
Pure Ice Cream is part of the Graviss Group from India, which was the pioneer in India for ice creams under the brand name 'Kwality’ since 1955.For all the latest retail news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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