GRUMA, S.A.B. de C.V. : GRUMA Announces the Acquisition of a Corn Milling Company in Turkey
November 25, 2011 at 03:11 am EST
By
Share
IR Contact Information:
ir@gruma.com
(52) 81 8399-3311 and 24
Monterrey, N.L. Mexico; November 24, 2011 www.gruma.com
GRUMA ANNOUNCES THE ACQUISITION OF A CORN MILLING COMPANY IN
TURKEY
Monterrey, N.L., Mexico, November 24, 2011 -
GRUMA, S.A.B. de C.V. ("GRUMA") (NYSE: GMK, BMV:
GRUMAB), announced today the acquisition of a corn milling
company in Turkey, Semolina A.S. ("Semolina"), for US$17.5
million.
Based in Samsun, Turkey, Semolina is the leading corn miller
in the country, and specializes in supplying corn grits
mainly for the snack and breakfast cereals industries. A
third of its sales are exported to Egypt, Israel, Lebanon,
among other countries. Semolina is the most advanced corn
milling facility in Europe using state-of-the-art technology
that delivers blue- chip customers European grade
specifications in this region. During 2010, Semolina's net
sales amounted to US$35 million.
The acquisition of Semolina represents a signif icant
milestone for GRUMA's growth strategy in Eastern Europe and
the Middle East. The company's European milling division's
priority is to consolidate itself as a market leader in corn
milling and related products for the snack, brewing and
breakfast cereals industries.
GRUMA took control of Semolina's operations on November 17
and is retaining key personnel to keep knowledge and
continuity in these markets. This acquisition fits into
GRUMA's overall strategy to take advantage of opportunities
and synergies around the world.
GRUMA is one of the world's leading tortilla and corn
flour producers. GRUMA was founded in 1949 and is engaged
primarily in the production, marketing, distribution, and
sale of tortillas, corn flour, and wheat flour. With leading
brands in most of its markets, GRUMA has operations in the
United States, Mexico, Venezuela, Central America, Europe,
Asia, and Australia and exports to 105 countries worldwide.
GRUMA is headquartered in Monterrey, Mexico, and has
approximately
20,000 employees and 98 plants. In 2010, GRUMA had net sales
of US$3.8 billion, of which 67% came from non -Mexican
operations.
Page 1 of 1
distribué par
Ce noodl a été diffusé par Gruma SAB de CV et initialement mise en ligne sur le site http://www.gruma.com. La version originale est disponible ici.
Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2011-11-25 09:06:01 AM et restera accessible depuis ce lien permanent.
Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité.
Documents associés
GRUMA Announces the Acquisition of a Corn Milling Company in Turkey
Gruma, S.A.B. de C.V. is a Mexico-based food holding company. The Company is engaged in corn and flour tortilla production across the world. The Company produces wheat flour and its derivatives, such as flatbreads, wraps, chapatti, and pizza bases plus other food products. Its segments include: Corn flour and packaged tortilla division, which manufactures and distributes approximately 20 varieties of corn flour that are used mainly to produce and distribute different types of tortillas and tortilla chip products in the United States; Corn flour division, which engages principally in the production, distribution and sale of corn flour in Mexico under MASECA brand; and Other segments, which focuses on corn flour, hearts of palm, rice and other products. The Company has operations in the Americas, Europe, Asia and Oceania.
GRUMA, S.A.B. DE C.V. 
By 
