Nadec
The National Agricultural Development Company (Nadec) is one of the largest agricultural and food-processing share stock companies in the Middle East and North Africa. Established in 1981 by royal decree, it is a joint stock public company – 20% owned by the government of Saudi Arabia, with the rest publicly traded on the Saudi Stock Exchange. It is one of the very few and largest vertically integrated dairy businesses in the world.
| Company type | Public |
|---|---|
| ISIN | SA0007879568 |
| Industry | Food industry |
| Founded | August 18, 1981 |
| Headquarters | , |
Key people | Sulaiman Al Rajhi (Chairman) Abdul Aziz M. Al Babtain (Managing Director) Karim Manssour Dahbi (CEO, Nadec Foods) |
| Revenue | 844,597,000 Saudi riyal (2019) |
| Total assets | 3,943,957,000 Saudi riyal (2019) |
| Website | https://nadec.com/ |
Nadec has a head office located in Riyadh and it owns six dairy farms with around 60,000 cows and two modern dairy plants with a total capacity of 1.5 million litres of milk daily.
In January 2021, Nadec has launched a restructuring program to save $32 million in a plan to improve its profit.
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