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Britannia Plans To Set Up New Plant In Bengal
The Kolkata factory is not very efficient at the moment and the company is working to improve its productivity, says Chairman Nusli Wadia
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FMCG major Britannia Industries is looking to set up a plant in West Bengal and make the existing one more productive, it's Chairman Nusli Wadia said on Monday.
Replying to shareholders at the company's AGM in Kolkata, Wadia said: "We are looking at a new plant in Bengal. But it is not decided yet".
He further said that the existing plant at Taratola would be made more productive. The Calcutta factory is not a very economical one at the moment and the company is trying for its improvement.
The company had gained market share over its competitors such as ITC and Parle, the Chairman said, adding that the principal business was that of biscuits.
On acquisition of new businesses, he said the company was sitting upon a good amount of cash.
"We are always scouting for new business. We have to find the right opportunity", he added.
Referring to its subsidiaries, Wadia said that these were primarily contract manufacturers
He also said there was no rush to sell properties for cash.