Tata Chem sees Rallis buy helping agri-biz growth

Tata Chem sees Rallis buy helping agri-biz growth
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First Published: Fri, Aug 21 2009. 03 47 PM IST
Updated: Fri, Aug 21 2009. 03 47 PM IST
Mumbai: Tata Chemicals Ltd sees its agri-business revenue at Rs2.5 billion in FY10, helped by marketing and distribution muscle from group firm, Rallis India , its managing director said on Friday.
Tata Chemicals spent Rs3.64 billion to buy 35.08% stake in Rallis India this month, raising its shareholding to 45.08%.
“Tata Chemicals is having a strong marketing presence in the north and the east, while Rallis is strong in the west and the south helping us to create value,” R. Mukundan told reporters.
He also said that the company will not spend an earlier planned Rs700 million in speciality nutrients business, following the Rallis buy.
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First Published: Fri, Aug 21 2009. 03 47 PM IST