Orkla to expand in India
01.09.08
12:13
Orkla bought the largest producer of pre-cooked food in India last year. Now they want to double its sales. MTR is the definitive market leader in the production of vegetarian pre-cooked food in India.
MTR has a 75-80 percent share of the market, and over the three last years its turnover has increased by 80 percent. That is not enough for Orkla- After having spent the last year getting to know the Indian market it is time to accelerate the growth.
- Our goal is to double our activity in India in two to three years. We have more opportunities to choose from than we can take, says CEO of Orkla, Dag Opedal, in an interview with Bloomberg.
MTR has its market primarily in the Karnataka region in the south of India, with a population of 35 million people. According to Opedal, Orkla now wants MTR to cover the north of India. Orkla also considers buying into other Asian market as China, Vietnam and Malaysia.
- We want to strike broader in Asia, and we will achieve that by supporting and building up MTR, Says Opedal. In the interview with Bloomberg Opedal says that Orkla is willing to sell assets to finance the expansion in Asia. Opedal rules dismisses that Orkla will sell shares in REC, a producer of solar panels, and Jotun, a producer of paints, but according to Bloomberg he declines to comment on the post in Scandinavia Property Development ASA.
- Our goal is to double our activity in India in two to three years. We have more opportunities to choose from than we can take, says CEO of Orkla, Dag Opedal, in an interview with Bloomberg.
MTR has its market primarily in the Karnataka region in the south of India, with a population of 35 million people. According to Opedal, Orkla now wants MTR to cover the north of India. Orkla also considers buying into other Asian market as China, Vietnam and Malaysia.
- We want to strike broader in Asia, and we will achieve that by supporting and building up MTR, Says Opedal. In the interview with Bloomberg Opedal says that Orkla is willing to sell assets to finance the expansion in Asia. Opedal rules dismisses that Orkla will sell shares in REC, a producer of solar panels, and Jotun, a producer of paints, but according to Bloomberg he declines to comment on the post in Scandinavia Property Development ASA.
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