Kuwait Mezzan Holding KSC may increase prices of its products in the coming period, says CFO
Kuwait , Kuwait
22 May 2021, 12:00 AM
31 May 2021, 12:00 AM
Kuwait Mezzan Holding KSC may increase prices of its products in the coming period due to disruptions related to production chains, which led to an increase in the prices of production inputs, said CFO Nabil Bin Ayed.
Mezzan Holding is one of the largest manufacturers and distributors of food, beverage, FMCG and healthcare products in the Gulf.
Mezzan's Kuwait Saudi Pharmaceuticals Industries Co. KSPICO signed a joint manufacturing agreement with Abbott Laboratories, which specializes in medical and healthcare devices, to localize the industry of 26 pharmaceutical products in Kuwait.
The company's plan is to maintain purchasing power inside and outside Kuwait, and to control the cost of production by finding internal solutions, Mr. Nabil added.
Bin Ayed said that the priority will be for the local market.This agreement will help the company transfer technology to the local market and contribute to the development and production of medicines in Kuwait, Al Arabiya reported.
The Group will develop its manufacturing capabilities to keep pace with international standards, he explained.