Empee Distilleries inks pact with USL for manufacturing IMFL

However, financial details of the agreement were not revealed

Chennai-based Empee Distilleries today said it has inked pact with United Spirits for manufacturing Indian made foreign liquor.

 

"The company has entered into an agreement with Bangalore-based United Spirits Ltd for manufacturing Indian Made Foreign Liquor (IMFL) for distribution in Karnataka," Empee Distilleries said in a filing with BSE.

 

The manufacturing will be done at the company's plant at Kolar District in Karnataka, it added.

 

It, however, did not give the financial details of the agreement.

 

The agreement with United Spirits is initially for a period of three years, Empee Distilleries said.

 

Commenting on the development, Empee Distilleries Joint MD Nisha Purushothaman said, "We view this as a strategic alliance which will enable us to grow our liquor business in Karnataka."

 

The company is also working out a detailed plan for export of IMFL to East-Asian countries from this plant, she added.

 

Shares of Empee Distilleries were trading at Rs 36.35 per scrip during afternoon trade at BSE, up 9.98% from its previous close.