Kraft powder up for sale?
concentrate plant in Hyderabad, India up for sale, reports the
Indian paper Financial Express.
US food company Kraft Foods has put its powdered soft drink concentrate plant in Hyderabad, India up for sale, reports the Indian paper Financial Express.
According to the report, Kraft Foods - represented by its subsidiary KJS India - is keeping an eye open for a suitable buyer for its facility that has suspended production since January 2003.
"We are exploring all options to find a suitable buyer for the plant," KJS India director Ajit Sahgal told the Financial Express.
While sources said that Kraft might call on Ernst & Young to help identify prospective buyers, Sahgal claimed that nothing was confirmed. "The details are commercially confidential at this stage," he added.
The report points to the company Rasna, currently the market leader in the powder soft drink category, as a possible buyer.
Kraft suspended production of the powder soft drink brand Tang at the plant due to to low volumes of business.
