Business Daily from THE HINDU group of publications
Friday, February 23, 2007
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Business Daily from THE HINDU group of publications Friday, February 23, 2007 |
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News Update as at 17.00 hrs (IST)
Corporate MUMBAI: Tata Coffee Ltd on Friday said that it plans to retail coffee in Russia, Ukraine and countries in the Commonwealth of Independent States (CIS), via its Eight O'Clock coffee brand. "We have plans to perhaps leverage the Eight O'Clock brand and launch a brand in Russia, CIS and Ukraine," Mr M H Ashraff, Managing Director, Tata Coffee said at a press conference in Bangalore. He added that Tata Coffee is currently the second largest wholesale exporter of instant coffee into Russia, Ukraine and CIS countries. "Tata Coffee has already started its research in Russia, Ukraine and CIS countries and that is where we are going to concentrate on by going in with a brand," Mr Ashraff said. The instant coffee market in the three areas is growing at about 10 to 12 per cent each year, he said. "The market is big enough for us to enter." Tata Coffee bought the U.S.-based Eight O'Clock Co. from Gryphon Investors for $220 million in June last year.
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