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IHC reports six-fold increase in net profit to $816m in 2020
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International Holding Company reports Dh3 billion net profits driven by acquisitions
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IHC opens biggest seafood processing facility in Dubai
Dubai, UAE, 25 days ago International Holding Company (IHC) has opened a new AED 200 million ($54.45 million) seafood processing facility which will process, store and distribute a quarter of the seafood consumed in the UAE. Operated by IHC’s subsidiary ASMAK, the new seafood facility is the largest in the Middle East and is designed to support the UAE’s food security aims, providing products to millions of consumers in the UAE and the region, a statement said. ASMAK, a leading provider of fresh and frozen seafood across the Middle East, will process an initial 40,000 tonnes of seafood annually through the facility, with scope to increase capacity to 60,000 tonnes. Annual seafood consumption in the UAE is currently approximately 270,000 tonnes.
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