Insider Business Developments in Cyprus’ flour manufacturing market

Developments in Cyprus’ flour manufacturing market

Savvas Hadjigiorkis and Sons Ltd has become a leading player in the island’s flour manufacturing market following recent approval by the Commission for the Protection of Competition for the acquisition of Commercial & Industrial Wheat Companies Ltd.

The total flour supply market share of the two companies will be between 30-40%, while the market share in the supply of flour mill by-products will also be within that range, according to data collected by the Commission.

But despite the buyer’s increased market share, the Commission’s decision stipulates that there will still be a competitor with a larger market share. As well as a number of other importers who will be able to raise objections in the event of abuse by the buyer with the increased market share.

Although no specific reference is made, insiders believe the Commission’s decision seems to favour Mitsides flour and pasta manufacturing company. There are 21 importers in this market, nine of whom  supply the Cypriot market in bulk, while another 10 only import for their own use.

Savvas Hadjigiorkis and Sons Ltd has acquired the production and supply of flour and by-products unit from the Commercial & Industrial Wheat Companies Ltd. And this includes the stock, reputation and customers, equipment and machinery.

The intention of the seller is not to continue to operate in the production and supply of flour and by-products which is the buyer’s target.

Savvas Hadjigiorkis and Sons Ltd (Hadjigiorkis Flourmills) was founded in 1945 and in an effort to expand its product production beyond flours and meet the bakery and confectionery needs in Cyprus, the company has enriched its range of products, adding several bakery and confectionery raw materials.

It is the sole representative in Cyprus of the Greek company KENFOOD S.A., and the German company Lindemann GmbH & Co. KG. At the same time, Savvas Hadjigiorkis and Sons Ltd collaborate with international bakery and confectionery companies.

Read more:

https://in-cyprus.com/cyprus-agrotourism-the-best-villages-to-visit-in-september/

Top Stories

12-new covid cases at the same levels, nothing from abroad or schools

  12 new cases of Covid-19 were detected in Cyprus over the past 24 hours out of a total of 3 thousand 338 diagnostic tests. The...

Cyprus extends support to Armenia as FM calls counterpart

  Cyprus has expressed its deep concern over the escalating situation in Nagorno Karabakh over the past 48 hours and condemned 'the Azeri violation of...

International concern over Karabakh, as energy corridor is threatened (latest)

  Clashes erupted between Armenia and Azerbaijan over the volatile Nagorno-Karabakh region, reigniting concern about instability in the South Caucasus, a corridor for pipelines transporting...

38 C on Monday, close to 40 C on Tuesday, cooler on Wednesday

The warm air current affecting the island will take temperatures a touch under August levels over the next 48 hours, with 38 C on...

War fears in Karabakh as Armenia and Azerbaijan clash with civilian casualties

  Armenia declared martial law and mobilised its male population after clashes with Azerbaijan over the breakaway Nagorno-Karabakh region in which sources on both sides...

Taste

Sheftalies

Sheftalies, a very tasty dish from the charcoal grill, are minced meat shaped into small sausages and wrapped in “panna” (suet). Panna is a...

Spicy grilled soutzoukakia

Place all ingredients for soutzoukakia in a bowl and mix well, preferably using a food processor, until well combined. Using the mixture, form cigar-shaped...

Souvlakia

Pork souvlaki: Put the meat and all the other ingredients in a bowl (not metal) and mix well. Cover the bowl and keep in...

Pastelli (Carob Toffee)

The nutritional sweet of Pastelli is made with the syrup of carob pods, produced by boiling their pulp until it forms a thick, sticky...