LATEST NEWS

Mcleod Russel to buy tea processing unit in Vietnam

Kolkata, May 3 (IANS) Mcleod Russel, the world's largest tea producer, Friday said its Vietnamese subsidiary Phu Ben Tea Company has signed an agreement for purchase of a tea processing factory in the southeast Asian country for $2.75 million.

"Phu Ben Tea Company Ltd, a 100 percent step-down subsidiary of the company in Vietnam on May 3, 2013 has signed an agreement for purchase of a tea processing factory in Vietnam with annual production capacity of 1.2 million kgs for a consideration of $2,754,000 plus VAT at the applicable rate,” Mcleod Russel informed Bombay Stock Exchange (BSE) in a regulatory filing.

Contacted for comments, the tea firm said it was hopeful of acquiring the tea processing factory soon.

“We expect that within a month we can acquire the factory in Vietnam,” Kamal Baheti, chief financial officer, McLeod Russel, told IANS.

DON'T MISS

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    26.70+0.30+1.14%
    SUZLON.BO
    16.35+0.35+2.19%
    UNITECH.BO
    20.15-0.75-3.59%
    SPICEJET.BO
    183.20+21.35+13.19%
    IDFC6.BO
    151.05+6.00+4.14%
    POWERGRID6.BO
  • Price % Gainers
    Price % Gainers
    NamePriceChange% Chg
    218.00+36.30+19.98%
    SASKEN.BO
    20.40+3.30+19.30%
    WINDMACHIN.BO
    1,037.25+164.75+18.88%
    ASTAR.BO
    128.90+20.20+18.58%
    ASHOKALC.BO
    12.75+1.95+18.06%
    SHREEYASH.BO
  • Price % Losers
    Price % Losers
    NamePriceChange% Chg
    15.75-3.15-16.67%
    EXCELINFO.BO
    67.30-12.60-15.77%
    SAHARA.BO
    9.60-1.71-15.12%
    UNISHIRE.BO
    9.01-1.57-14.84%
    HINDSYNTEX.BO
    430.00-72.50-14.43%
    OJASASSET.BO
  •  
    Recent Quotes
    Symbol Price Change % ChgChart 
    Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
    You need to enable your browser cookies to view your most recent quotes.
  • Recent Quotes News

    •  
      Sign-in to view quotes in your portfolios.