Incorporated on 9 Jun.'93, Kengold India was promoted by D B Patil, B M Patil and K A Andani. The company is setting up an ultra modern state-of-the-art plant (to be imported from the US) to produce blanched, roasted and salted peanuts along with cashew nuts, almonds and mixed nuts (inst. cap. : 6500 tpa).
The integrated imported plant would have an automatic cleaning section, a roasting, blanching and the latest colour sorting sections, along with a salted nut section and a form fill and seal packing line.
The company has an export obligation as its machinery was imported at a concessional rate of duty. It came out with a public issue in Nov.'94 to part-finance the project. The company has entered into firm agreements to export and market 4000 tonnes of processed nuts. It proposes to launch its products in the local market under the Mr Krunchie brand. Trial production was scheduled for the middle of Jun.'95 and commercial production by the end of Dec.'95.
The project of the company at Narmada could not operated upto satisfactory level during the year 2000-01,due to the changes in the government policies,Import Export Policies and heavy import of edible oil has adversely affected the domestic crushing and refining units in the country. The unit at Sanand also could not worked well due to non availability of raw materials of standard quality from the Saurashtra region.