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Britannia eyes Maharashtra for big plant
FMCG major Britannia Industries plans to set up its largest plant at Ranjangaon Food Park in Maharashtra, Chairman Nusli Wadia said on Monday. “The company is planning to set up its largest plant at the Ranjangaon Food Park” Wadia told shareholders at the 98th Annual General Meeting here.
It entered into a joint venture agreement with Chipita SA, a Greek company, for manufacture and sale of ready-to-eat filled croissants which is a large category in some countries demographically similar to India.
According to its latest annual report, it will continue to scout for many such profitable growth opportunities to ensure that it stays ahead of the market while transforming itself into a total foods company.
Wadia said the focus of the company would be on investments on new products and cost reduction. He also said that the company was planning to set up a dairy project. The company remains committed to the strategy of strengthening its position in bastion categories - biscuit, cake, rusk and bread, the report said.
Wadia said Britannia has the higher ratio for own manufacturing as compared to third party manufacturing. Presently, own manufacturing constitutes about 55 per cent and in the two years’ time, it is expected to be 65 per cent.
The report also said a greenfield plant was under way in Assam. To improve company’s competitiveness in the international market, greenfield project at Mundra Special Economic Zone, was being put up and was expected to commission in the coming year, it added.