Forafric Announces Plan to Expand with Lease of New Operating Facility; Expects to Increase Crushing Capacity by 600 Tons per Day

Written by Emily J. Thompson, Senior Investment Analyst

Source: Newsfilter

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Source: Newsfilter

Forafric's New Contract: Forafric Global PLC has signed a 10-year renewable agreement to lease and operate a milling facility in Morocco, which will enhance its milling capacity by approximately 600 tons per day.
Company Growth Plans: The expansion is part of Forafric's strategy to grow its operational footprint and optimize production, with operations expected to transition by the third quarter of 2024, pending regulatory approvals.

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About AFRI

Forafric Global PLC is an integrated, global business involved in the purchase, storage, transport, processing and sale of agricultural commodities and commodity products. The principal agricultural commodities that it handles are flour and semolina, and secondary processing products, such as pasta and couscous. Its segments include Soft Wheat, Durum Wheat, and Couscous and Pasta. The Soft Wheat segment includes the production and sale of soft wheat yielding flour that is used to make desserts and sauces. The Durum Wheat segment includes the production and sale of hard wheat yielding flour that is used to make pasta. The Couscous and Pasta segment includes the secondary processing of products, including couscous and pasta sold to end customers. It sells processed commodity products to customers in over 45 countries in Europe, Asia, Africa, and the Middle East. The Company operates approximately 12 industrial units and two logistics platforms. Its brands include Tria and MayMouna.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

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FORAFRIC GLOBAL Announces Leadership Transition: New Chairman of the Board Appointed

Apr 04 2025Newsfilter

Leadership Change: Khalid Assari has been appointed as Chairman of the Board for Forafric Global, effective April 4th, 2025, succeeding Saad Bendidi. Assari brings extensive experience in the agricultural sector and holds an MBA in finance.
Company Overview: Forafric Global is a prominent agribusiness in Africa, specializing in milling and exporting products like flour, semolina, pasta, and couscous to over 45 countries, with plans for continued expansion in Morocco.

Forafric Adopts New Balance Sheet Strengthening Strategy

Feb 11 2025Newsfilter

Company Strategy: Forafric Global PLC is implementing a strategy focused on Morocco and soft wheat by divesting non-core assets, which is expected to generate between 80 and 100 million USD to strengthen its balance sheet and improve working capital.
Leadership Change: Mr. Khalid Assari has been appointed as the new CEO of Forafric Global PLC and its subsidiary Forafric Morocco, succeeding Mr. Mustapha Jamaleddine who retired at the end of 2024.

Forafric to divest non-core assets for $80M-$100M

Feb 11 2025Business Insider

Forafric's New Strategy: Forafric (AFRI) is implementing a balance sheet strengthening strategy focused on Morocco and soft wheat, which includes divesting non-core assets to generate estimated proceeds of $80M to $100M.
Investment Insights: TipRanks offers tools like Smart Score to help investors make informed decisions by monitoring stock performance and comparing it with Wall Street Analysts' recommendations.

Forafric Announces Nasdaq Compliance Status

Jan 21 2025Newsfilter

Compliance with Nasdaq: Forafric Global PLC received a notice from Nasdaq regarding non-compliance due to the late filing of its Six Month Report, but subsequently filed the report and confirmed compliance on January 16, 2025.
Company Overview: Forafric is a leading agribusiness in Africa, specializing in milling and exporting products like flour and pasta, with operations across Morocco and Sub-Saharan Africa, aiming to enhance food security in the region.