|
|
 |
 |
| Sunday, 6 October 2002 |
 |
|
 |
Business |  |
| News Business Features Editorial
|
Sara Lee aims for Rs 1b investment Sara Lee Household and Bodycare Lanka Pvt Ltd. plans to increase its investments to one billion rupees within a period of four years from the present Rs 400 million. The company's Chief Executive Officer V.S. Pradeep Kumar said that starting this year, the Sri Lankan business has become a thrust area for Sara Lee. The company's investment in Sri Lanka will ensure a choice of several Sara Lee brands in the local market, offering the consumer a wide range of quality international products. Sara Lee has substantial investments in Sri Lanka and has set up a factory at Mount Lavinia. It will produce KIWI shoe polish, floor polish, and a range of KIWI household cleaners, he added. Sara Lee has a distribution agreement with JL Morrison Son and Jones. The company entered India through a joint venture with the TKK Group in 1993. With India becoming a strong focus area, it acquired the balance shares from TKK in January 2002, becoming a 100 per cent Sara Lee company. Sara Lee markets over 100 varieties of consumer products including KIWI shoe polish, Brylcreem, Goodknight household insecticide, Sanex skin care products, Ambipur air fresheners, Champion branded apparels and Douwe Egberts coffee. Sara Lee has a joint venture with the Godrej Group, named Godrej Sara Lee India, to market its household insecticides. Sara Lee holds 51 per cent of the shares of this company. Godrej Sara Lee India has also set up a 100 per cent subsidiary in Sri Lanka under the name Godrej Sara Lee Lanka Pvt Ltd. This company has already commenced manufacturing GoodKnight household insecticides at its factory at Mount Lavinia. Sara Lee Household and Bodycare Lanka Pvt Ltd., incorporated under the Board of Investment, is a 100 per cent subsidiary of H&BC India Ltd., a wholly-owned subsidiary of Sara Lee Corporation. It is a Fortune 500 multinational organisation headquartered in Chicago, USA with reported sales of US$ 17.5 billion (Rs 1700 billion) and operations in over 100 countries. |
|
News | Business | Features
| Editorial | Security Produced by Lake House |
