Financial Daily from THE HINDU group of publications
Saturday, Feb 14, 2004
Financial Daily from THE HINDU group of publications Saturday, Feb 14, 2004 |
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Corporate
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Announcements Gannon scouting for contract facility in India Ch. Prashanth Reddy
Hyderabad , Feb 13 GANNON Vietnam Ltd (GVL), a 100-per cent foreign invested service company providing warehousing, labelling, packaging and logistical support to large multinational organisations, is exploring the possibility of setting up a contract manufacturing facility in India for the production of ultra high temperature (UHT) dairy products. "India is a very interesting market for us and over a period of five years, we envisage a big demand for UHT dairy products ", the GVL Managing Director, Mr. Walter August Blocker, told Business Line. Mr Walter was here to take part in the national dairy and beverage seminar organised by Tetra Pak India. GVL is currently producing dairy and juice products for some of the world's largest beverage brand owners including Nestle, Parmalat, Uni-President and Nutifoods. According to Mr Walter, UHT dairy market is growing at a rate of 14 per cent per annum in Asia. The reason for this is that the product is not only much safer but also has a long shelf life. Besides, the consumer trends are changing with the increase in the purchasing power. Hence, the demand for UHT products is increasing though they are expensive compared to ordinary products.
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