National Foods sets up new subsidiary in UAE

National Foods (NATF) has set up a new subsidiary in the United Arab Emirates (UAE) to expand its international presence and strengthen its overseas operations.

The listed company disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Tuesday.

“As part of the strategy on international business, the company’s wholly owned subsidiary, National Foods FZCO, based in Dubai, has established a further subsidiary, namely National Foods Gulf (FZE) in Sharjah, UAE,” read the notice.

National Foods (FZE), registered in Sharjah, UAE, was a subsidiary of National Foods DMCC, which itself is a Dubai-based wholly-owned subsidiary of National Foods Limited (NATF).

Last year in February, National Foods DMCC completed the liquidation and closure of its subsidiary, National Foods (FZE), which was registered in Sharjah, UAE.

NATF was incorporated in Pakistan as a private limited company in 1971 and was subsequently converted into a public limited company.

The principal activity of the company is the manufacturing and sale of convenience-based food products. The company has a diverse portfolio of 250 products in about 12 broad categories. It has a global footprint in 40 countries across 5 continents.

The ultimate parent entity of the company is ATC Holdings (Private) Limited.