Junet to expand into Iraq

Bekaa-based juice manufacturer enters
joint venture to build, manage factory

Junet, a local manufacturer of juice products, is planning to expand its business into Iraq where it is set to open a new production facility through a 50-50 joint venture with an Iraqi partner. Junet will manage the 15,000 square meter-factory. Administrative staff will all be Lebanese. The cost of machines is around $5 million.

John Estefan, the company's general manager said: “Iraq is a big market. The factory’s output will reach $15 million per year.” He said the factory’s products will all carry the Junet brand name.
“We’re currently in the process of purchasing the machines,” Estefan said. Production will begin before December.

Junet for Industry and Trade was founded in 1980. The company is owned by Jamil Estephan and his two sons, Michel and John.

Junet’s factory in the Bekaa produces $5 million-worth of juice products each year. The company exports around 80 percent of its output. “We do not rely on local demand, because the market here is small.” Most of exports go to Arab markets, mainly Gulf countries, as well as Africa, Europe, Canada, and the US.

Reported by Rania Ghanem