INDIA: Orkla's MTR Foods aims to double turnover by 2012
MTR Foods, one of the top five processed foods manufacturers in India, aims to double turnover to INR5bn by 2012 by focusing on its core business of spices and masalas, instant mixes and vermicelli.
CEO Sanjay Sharma said he wanted MTR Foods, which is owned by Norway's Orkla Brands, to expand sales from its south India base across India and abroad. Exports account for 10% of Bangalore-based MTR Foods’ business.
"In exports, our growths will come from not only attracting the Indian diaspora but also appealing to the experimental international clientele who wants to try authentic Indian foods,” Sharma said
“Besides exports, in the domestic market we also reach out to channels that sell through institutions such as the Indian railways, the Indian army and the government of India, as well as horeca channels to reach out to hotels, restaurants and caterers.”
The company is investing over INR150m to upgrade their spice manufacturing facility. "Besides spices, for the vermicelli market, we are taking the outsourcing route that should increase output to around 1,200 metric tonnes," Sharma added.
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