Zad eyes mergers, expansion

FLOUR major, Zad Holding Company (previously known as Qatar Flour Mills), is eyeing mergers, acquisitions and expansion. Zad managing director Sheikh Nawaf bin Mohamed bin Jabor al- Thani said his company plans to increase the flour mill's capacity to 600 tonnes a day, from the current 400 tonnes, by next year. "We are seeking new sources of revenue for the company as well as modernising the company's plant and equipment so that we can tap into future opportunities," Sheikh Nawaf said. The company is also mulling over a number of merger and acquisition proposals and green field projects in Qatar, Sheikh Nawaf also said. Despite the impact of the global economic crisis, the company posted a net profit of QR46.33m in the first half of 2009, on the back of increased sales of flour and flour-based products in the local and export markets. Zad Holding CEO Tarique Mohamed meanwhile told a press conference to discuss the company's H1 results that the group had almost doubled the capacity of its Arabic bakeries.Nike Air Jordan