 أرسل الى صديق عبر البريد الألكتروني
2006-10-01
Palestinian Investors Unite to Support Agriculture Harvest Export increases capital to $30 million
Ramallah, palestinE - September 27, 2006: The General Assembly of Harvest Export held its first shareholders meeting today at the offices of Massar Associates in Ramallah. A report on the performance of the company during the establishment period was presented and discussed at the meeting. In addition, the company’s financial auditor, Ernst & Young, presented the audited financial report for the same period.
The vice chairman of the board of Harvest Export, Bashar Masri, announced the conclusion of a merger with Maysam Agriculture Company through increasing Harvest Export’s capital. He also announced that the PALTEL Group, Wassel, Al Rafah Bank, Palestine Industrial Estates Development & Management Company, Trust Insurance, and the Golden Wheat Mills Company will join the company as new strategic partners. Harvest Export will continue to use the “Maysam” name as a trademark for its produce.
Shareholders at the special meeting of the general assembly unanimously approved increasing the company’s capital from $10 million to $30 million, of which $10.8 million will be made available as public shares at a later stage.
Mr. Masri pointed out that Harvest Export is the first Palestinian company to specialize in agricultural produce export. Mr. Masri further emphasised that the role of the new investors will contribute to increase the company’s capital, and expand its activities and work plans which will impact positively the agriculture sector.
Mr. Masri also stated that the company had recently concluded a successful export operation for seedless grapes to the European markets. The experience contributed to the company’s knowledge of the needs of external markets. Moreover, he stressed that Harvest Exports value-added services will improve export potential for the Palestinian farmers by opening the doors to international markets.
Harvest Export was established in late 2005 by more than 25 founders from the West Bank, Gaza Strip, and Jordan, including Massar Associates, Sahem Trading and Investments Company, Jordan Kuwait Bank, Abu Ramadan Group, Arab Palestinian Investments Company (APIC), Palestine Development & Investments Ltd (PADICO), and United Company for Financial Investment
Harvest Export was established for the purpose of developing and supporting Palestinian farmers by improving the quality of production in order to help them to develop their exports into a more viable and feasible industry. The company is engaged in many agricultural activities including production, management, marketing, and storage. It works to attract local, Arab, and foreign investors to invest in the agricultural sector. Moreover, the company provides logistics services required to store exportable agricultural products at ports, crossing points, and handles packing and distribution operations.
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