BackTata Chemicals to float JV with foreign firm
Tata Chemicals to float JV with foreign firm
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Inorganic chemicals and fertilizers maker Tata Chemicals has agreed to float a joint venture with Europe’s largest fresh-produce firm Total Produce Plc. to set up distribution facilities of fresh fruit and vegetables across India.
Details of the tieup were not immediately available in Tata Chemicals’ filing on the Bombay Stock Exchange.
The 50:50 joint venture company will create state-of-the-art distribution facilities across India by leveraging the individual strengths of both joint-venture partners, it said.
Total Produce operates through its subsidiaries, joint ventures and associates from 66 retail and wholesale distribution facilities and five ancillary offices throughout Europe, with facilities in Ireland, the United Kingdom, Sweden, Denmark, Spain, Italy, Holland, Belgium, France, the Czech Republic and Slovakia.
In January 2007, it acquired British company Redbridge Holdings Ltd.
Shares of Total Produce are listed on both the Dublin and London stock exchanges. Total Produce was recently spun off from Irish fruit distributor Fyffes Plc.
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