Financial Daily from THE HINDU group of publications
Wednesday, Jan 16, 2002

News
Features
Stocks
Port Info
Archives

Group Sites

Agri-Biz & Commodities - Trading
Corporate - Announcements


Satnam expanding global network

Our Bureau

MANGALORE, Jan.15

SATNAM Overseas, which claims to have more than 29 per cent of the `branded basmati rice market' estimated at about Rs. 450 crore in the country, is in the process of extending its global network.

Addressing a press conference here, the company's representatives said the firm had set up a wholly-owned subsidiary in the US and it was expected to cross a turnover of Rs 10 crore during the current financial year from rice alone. Apart from rice, it expects to increase its turnover from other agro-products.

The company has also started a joint venture company_ Indo European Foods Ltd_ headquartered in London through which it hopes to enter the European markets. It hopes to register a turnover of Rs 150 crore through this venture from rice alone. It is currently in the process of establishing distributors and enlarging its network.

In order to promote `branded rice' in the UAE market, in which the company claims to have a `sizable presence', Satnam has established a joint venture in Dubai and has fixed a target of Rs 250 crore in the current financial year.

Send this article to Friends by E-Mail

Stories in this Section
Tenth Plan to focus more on horticulture: NHB chief


Rubber prices steady on low arrivals
Mustard output set to recover
December vegoil imports up
Assocham moots palm oil duty cut
Nod for tech mission on coconut soon
`New awareness will revive coffee sector'
Satnam expanding global network


The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |

Copyright 2002, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line