Azersun Holding MMC (Azerbaijani: Azərsun Holdinq MMC) is an Azerbaijani conglomerate that operates in the food production, retail, and farming sectors primarily in Azerbaijan but also in other CIS countries and the Middle East. Azersun is the largest food producer and exporter in Azerbaijan (with 28 food brands produced) and also engages in the trade of paper and packaging.[2][3]
Azersun Holding MMC
Industry
Food manufacturing
Founded
1991
Founder
Abdolbari Goozal
Headquarters
Azerbaijan
Revenue
AZN 730 million Azerbaijan Manat ($430 million USD) (2018)[1]
AZN 279 million Azerbaijan Manat ($164 million USD) (2018)
Website
www.azersun.com
History
Shortly after the Soviet Union collapse, the former socialist countries, including Azerbaijan have geared their economies towards integration into a free market economy.[2] Obsolete technologies and floundering industrial units, inherited from the system of centralized socialist economy, did not meet the requirements of the free market economy.[2] Many of them had to close down due to changing market conditions, while the others could maintain only half of their production capacities.[4][2] The transition process brought severe unemployment and recession climate in the country.[4] Right up until 1993, Azerbaijan had practically no enterprises operating in the food manufacturing industry. Around this time the government laid down a new policy of privatization of industrial units. The influx of foreign investment, drawn in the country's economy, saw a sudden increase in the early 90s. Mr. Abdolbari Goozal happened to be among those foreign businessmen interested in investing in Azerbaijan. Shortly after his first visit to Azerbaijan he opened his first local branch office in Azerbaijan. As a result of successful activities, this office later expanded into a leading group of companies in the food sector. Azersun Holding has been the first foreign private company in Azerbaijan's food industry to incorporate several enterprises under its control pioneering the concept of a group of companies in the country.[2][5] In 1996, they established their trading company in Dubai.[2]
Sun Tea Çay Fabriki - tea factory purchased in 1994
Bakı Qida və Yağ Fabriki - edible oil factory purchased in 1995
Azerbaijan Industrial Insurance - OJSC established in 1996
Zeytun emalı Fabriki - paper factory purchased in 1997
Azərbaycan Kağız Karton Istehsalat Kombinati - cardboard factory purchased in 1997
Qida Paketləmə Müəssisəsi - food processing factory purchased in 1998[7]
Zeytun Emali Fabriki - olive processing factory purchased in 2002
Qafqaz Konserv Zavodu - canned food factory purchased in 2003
Qafqaz Metal Qablaşdırma Sənaye - metal packaging factory purchased in 2005
Zaqatala Fındıq Fabriki - Hazelnut factory purchased in 2006
Azərbaycan Şəkər İstehsalat Birliyi - Azerbaijan's largest sugar refiner purchased in 2006
Natural Green Land - edible oil factory established in 2006
Qənd İstehsalı Fabriki - sugar producer purchased in 2009
Azərbaycan Duz Istehsalat Birliyi - salt factory purchased in 2010
Qazax Konserv Zavodu - canned food factory purchased in 2012
Green Tech Istixana Kompleksi - vegetable products company purchased in 2012
Kürdəmir Süd Kompleksi - dairy purchased in 2013
Sumyagit Yag Fabriki - edible oil factory purchased in 2014
26% interest in pharmaceutical manufacturer Caspian Pharmed CJSC with Tamin Pharmaceutical of Iran (49%) and Azerbaijan Investment Company (25%), liquidated in 2021[8]
References
^"Annual Report for Azersun Holding MMC" (PDF). Azersun Holding (in Azerbaijani). December 31, 2018.
^ abcdefAzersun Holding: History retrieved May 10, 2017
^"Abdolbari Goozal, the President of Azersun Holding, the largest Azerbaijan Company in foodstuff production, trade and agriculture sectors, has become the Chairman of the Azerbaijan Entrepreneurs Confederation (ASK) Commission". ABC Azerbaijan. April 18, 2014.
^ ab. Tharawat Magazine. August 15, 2016. Archived from the original on December 18, 2016.
^"Black PR against Azersun Brands Hampering Company Investments". The Financial. October 25, 2010. Generally known as the largest major producer and exporter in the country's food industry...
^"HOLDİNQİN ŞİRKƏTLƏRİ". Azersun.com (in Azerbaijani). Retrieved March 5, 2020.
^"Azerbaijan's Caspian Pharmed CJSC declares liquidation". Middle East North Africa Financial Network (MENAFN). February 17, 2021.
January 21, 2023
azersun, holding, this, article, needs, additional, citations, verification, please, help, improve, this, article, adding, citations, reliable, sources, unsourced, material, challenged, removed, find, sources, news, newspapers, books, scholar, jstor, february,. This article needs additional citations for verification Please help improve this article by adding citations to reliable sources Unsourced material may be challenged and removed Find sources Azersun Holding news newspapers books scholar JSTOR February 2020 Learn how and when to remove this template message Azersun Holding MMC Azerbaijani Azersun Holdinq MMC is an Azerbaijani conglomerate that operates in the food production retail and farming sectors primarily in Azerbaijan but also in other CIS countries and the Middle East Azersun is the largest food producer and exporter in Azerbaijan with 28 food brands produced and also engages in the trade of paper and packaging 2 3 Azersun Holding MMCIndustryFood manufacturingFounded1991FounderAbdolbari GoozalHeadquartersAzerbaijanRevenueAZN 730 million Azerbaijan Manat 430 million USD 2018 1 Total equityAZN 279 million Azerbaijan Manat 164 million USD 2018 Websitewww azersun comHistory EditShortly after the Soviet Union collapse the former socialist countries including Azerbaijan have geared their economies towards integration into a free market economy 2 Obsolete technologies and floundering industrial units inherited from the system of centralized socialist economy did not meet the requirements of the free market economy 2 Many of them had to close down due to changing market conditions while the others could maintain only half of their production capacities 4 2 The transition process brought severe unemployment and recession climate in the country 4 Right up until 1993 Azerbaijan had practically no enterprises operating in the food manufacturing industry Around this time the government laid down a new policy of privatization of industrial units The influx of foreign investment drawn in the country s economy saw a sudden increase in the early 90s Mr Abdolbari Goozal happened to be among those foreign businessmen interested in investing in Azerbaijan Shortly after his first visit to Azerbaijan he opened his first local branch office in Azerbaijan As a result of successful activities this office later expanded into a leading group of companies in the food sector Azersun Holding has been the first foreign private company in Azerbaijan s food industry to incorporate several enterprises under its control pioneering the concept of a group of companies in the country 2 5 In 1996 they established their trading company in Dubai 2 Acquisitions and subsidiaries EditSubsidiaries of Azersun include 6 Sun Tea Cay Fabriki tea factory purchased in 1994 Baki Qida ve Yag Fabriki edible oil factory purchased in 1995 Azerbaijan Industrial Insurance OJSC established in 1996 Zeytun emali Fabriki paper factory purchased in 1997 Azerbaycan Kagiz Karton Istehsalat Kombinati cardboard factory purchased in 1997 Qida Paketleme Muessisesi food processing factory purchased in 1998 7 Zeytun Emali Fabriki olive processing factory purchased in 2002 Qafqaz Konserv Zavodu canned food factory purchased in 2003 Qafqaz Metal Qablasdirma Senaye metal packaging factory purchased in 2005 Zaqatala Findiq Fabriki Hazelnut factory purchased in 2006 Azerbaycan Seker Istehsalat Birliyi Azerbaijan s largest sugar refiner purchased in 2006 Natural Green Land edible oil factory established in 2006 Qend Istehsali Fabriki sugar producer purchased in 2009 Azerbaycan Duz Istehsalat Birliyi salt factory purchased in 2010 Qazax Konserv Zavodu canned food factory purchased in 2012 Green Tech Istixana Kompleksi vegetable products company purchased in 2012 Kurdemir Sud Kompleksi dairy purchased in 2013 Sumyagit Yag Fabriki edible oil factory purchased in 2014 26 interest in pharmaceutical manufacturer Caspian Pharmed CJSC with Tamin Pharmaceutical of Iran 49 and Azerbaijan Investment Company 25 liquidated in 2021 8 References Edit Annual Report for Azersun Holding MMC PDF Azersun Holding in Azerbaijani December 31 2018 a b c d e f Azersun Holding History retrieved May 10 2017 Abdolbari Goozal the President of Azersun Holding the largest Azerbaijan Company in foodstuff production trade and agriculture sectors has become the Chairman of the Azerbaijan Entrepreneurs Confederation ASK Commission ABC Azerbaijan April 18 2014 a b Azersun The Mind set of Growth Tharawat Magazine August 15 2016 Archived from the original on December 18 2016 Black PR against Azersun Brands Hampering Company Investments The Financial October 25 2010 Generally known as the largest major producer and exporter in the country s food industry HOLDINQIN SIRKETLERI Azersun com in Azerbaijani Retrieved March 5 2020 TARIX www azersun com Retrieved 2021 03 10 Azerbaijan s Caspian Pharmed CJSC declares liquidation Middle East North Africa Financial Network MENAFN February 17 2021 Retrieved from https en wikipedia org w index php title Azersun Holding amp oldid 1110489354, wikipedia, wiki, book, books, library,
