Gyma Food Industries, a UAE-based dried fruits, nuts and spices manufacturer, is planning to invest $10m in the Middle East in 2012, as part of its strategy to expand in the region.
As part of this plan, the company will expand one of its facilities in Dubai this year. It also plans to set up another facility in Eygpt by 2014.
Currently, the company processes and packs over 10,000 tons of dried fruits, nuts and spices in Dubai.
Gyma Food Industries chief executive officer Jean Marc Lourau told Khaleej Times that the UAE is the strongest market in the region for the company in terms of revenues. The company operates two facilities in the country.
It expects to generate annual revenues of AED500m ($136m) by 2018 from the present AED300m ($81.6m). Its products are distributed in 22 countries in the region through a network of 20 distributors.
