"Seğmen Brothers Food Set to Establish Wholly-Owned Subsidiary in Dubai"

Foreks - Seğmen Kardeşler (IS:SEGMN) Food has decided to establish a wholly-owned subsidiary based in Dubai. In a statement to the Public Disclosure Platform, the company announced:

"Subject: Decision of the Board of Directors on the establishment of a Dubai-based company, leasing of warehouse space, and formation of a sales team to enhance sales, marketing, and distribution activities in Gulf countries.

During the board meeting on October 22, 2024, it was resolved that:

1- A Dubai-based subsidiary, wholly-owned by our company, will be established to support and develop sales, marketing, and distribution of our current and new product lines in the Gulf countries.

2- Warehouse space will be leased under our newly established subsidiary in Dubai.

3- A regional sales, marketing, and distribution team will be formed.

4- Board member Serdar ÖZCANLI is authorized to execute these actions.

With the activities to be conducted under the new subsidiary, we aim to enhance our sales potential in the four countries (Dubai, Saudi Arabia, Bahrain, Oman) where we are currently conducting active and regular exports. Additionally, we plan to distribute our products to chain markets and out-of-home consumption points in Kuwait and Qatar. Our investors will be informed of any developments throughout the process."