The Hindu Business Line : Eveready, Phoenix Lamps end pact

Eveready Industries India Ltd (EIIL) and Phoenix Lamps Ltd have terminated the distribution and dual brand agreement signed between them on April 20, 2007. "It is a mutual and very amicable settlement," Mr Suvamoy Saha, Director of EIIL, told Business Line here on Tuesday. As per the distribution and dual brand agreement of April 2007, EIIL sold through its distribution channels CFL and general lighting lamps under the dual brands, "Eveready" and "Halonix". In the past one year, business growth proved to be fantastic. "From virtually zero, we posted a turnover of about Rs 50 crore," said Mr Saha, adding, "we expect the figure to treble in next 18 months or so". In order to take advantage of the rapid growth of the market of CFLs/GLLs, both the companies decided to part ways and go separately, each on its own. - Our Bureau

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