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Tanmiah Food Company (TFC) announces the signing of a Memorandum of Understanding (MoU) with Griffith Foods, a global product development and production company specializing in customized food ingredient solutions
| Element List | Explanation |
|---|---|
| Introduction | Tanmiah Food Company announces the signing of an MoU with Griffith Foods, a global product development and production company specializing in customized food ingredient solutions. This collaboration will diversify Tanmiah Food Company product portfolio, expand regional distribution, and advance the Kingdom’s Vision 2030 objectives of food security and self-sufficiency, in addition to driving sustainability across the supply chain. |
| Memorandum Signing Date | 2025-03-03 Corresponding to 1446-09-03 |
| Counterparty | Griffith Foods (“Griffith”) |
| Memorandum Subject | This MoU aims to conduct studies and evaluate the following areas of joint interest: • Supply Agreement: Entering into a Supply Agreement to strengthen product availability and support growth in the targeted market segments. • Commercial Joint Venture: Exploring the establishment of a joint venture in Saudi Arabia to expand market reach. • Halal Markets Development: Exploring collaboration to enhance halal ingredients production capabilities, including the establishment of a state-of-the-art R&D center in Saudi Arabia, dedicated to food innovation, product formulation and the development of healthier food solutions. • Manufacturing Buildout: Assessing feasibility of a production facility in Saudi Arabia for local production of Halal food ingredients to serve KSA and the GCC markets. |
| Memorandum Duration | 2 years |
| Related Parties | None |
| Financial Impact | Any future financial impact and any material developments will be announced in due course. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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