Lebanon Businessnews News
 

Al Rifai to open coffee factory
Qatari bank now owns 35 percent of nuts maker
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Lebanese nuts manufacturer Al Rifai plans to open a coffee factory in Mkalles. The factory will cover an area of 2,000 square meters, have a staff of 20, and will have the capacity to produce up to 3,000 tons of ground coffee per year. The new plant will start operation by late December.

The company is also planning to launch two new retail outlets, one in Baabda and another in Naccache. Al Rifai has launched five new outlets this year alone, increasing the number of local points of sales to 50.

“Al Rifai opened up its shareholder base to increase its capital and expand in local and international markets,” said Moussa Rifai, group General Manager.

Qatar First Investment Bank bought 15 percent of Al Rifai International Holding in December last year. The Doha-based bank recently increased its stake in Al Rifai to 35 percent.
“This increase will help support the company’s expansion plans,” Al Rifai said.

The company exports some 20 percent of its production of packed nuts to markets in Arab countries, Europe, and America. According to company figures, Al Rifai's total wholesale performance recorded a 63 percent year-on-year growth in the first half of 2012. Sales from exports posted a 66 percent year-on-year growth.

The company also aims to expand its factory in Sweden. Al Rifai expanded into Europe in 2008 with the opening of its 10,000 square meter factory in Sweden.
Reported by Rania Ghanem
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Date Posted: Sep 18, 2012