Financial Daily from THE HINDU group of publications
Thursday, Oct 14, 2004
Financial Daily from THE HINDU group of publications Thursday, Oct 14, 2004 |
||
|
|
||
|
Marketing
-
New Products & Services Agri-Biz & Commodities - Oilseeds & Edible Oil Bunge to invest up to $200 m over 5 years — Unveils Dalda edible oil range Our Bureau
Mr Christopher S. White, Regional General Manager, Asia, Bunge, at the launch of `Dalda - Refined oils' in the Capital on Wednesday. — Kamal Narang
New Delhi , Oct. 13 BUNGE Ltd is expected to invest $150 million - $200 million over the next five years in expanding its edible oils business in the country. The company, which acquired the edible oils and fat business of Hindustan Lever Ltd (HLL) last year, today announced diversification of the Dalda brand into refined edible oils, including mustard, groundnut, soyabean, gingelly and sunflower oils. "We are open to acquisitions as a route to grow in all our businesses - refining at ports, edible oil brands and even business systems. Bunge has invested up to $40 million in India since 1997 and we could pump in $150 million -$200 million over the next five years here. With the entry of Dalda into edible oils, Bunge is eyeing the number one slot as an integrated agri-business company in India," Regional General Manager (Asia) for Bunge Ltd, Mr Christopher S. White, told newspersons here. He said Bunge Agribusiness India Pvt Ltd's branded edible oils business was 1.5-2 lakh tonnes per annum and the company was looking to double it within the next three years. While acquiring the edible oils and fat business from HLL, Bunge had ensured that the distribution of these products continues to be done by HLL. Mr White said this arrangement was fee-based. "HLL is believed to have one of the best distribution networks in this country so we have no plans to do this function ourselves. Even the new products we have launched today will be distributed by HLL," he added. Asked about reports that the company was in talks to acquire Ruchi Soya, he said: "Nothing definitive has been planned with them and as of now we are not acquiring this brand." Bunge owns three separate manufacturing facilities in the country with combined capacity of about 1.2 lakh tonnes per annum. The company also uses third party manufacturing route to fulfil demand. Asked whether the vanaspati category was declining, Mr White said it was degrowing by up to 5 per cent per annum but Bunge had no plans to exit the Dalda vanaspati business at present.
More Stories on : New Products & Services | Oilseeds & Edible Oil
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|