Tea major Mcleod Russel India today announced acquisition of a tea processing factory in Vietnam for over Rs 5 crore.
Mcleod Russel is the world's largest tea producer. It produces about 100 million kgs of high quality tea a year from tea estates in Assam, West Bengal, Vietnam, Uganda and Rwanda.
In a filing to the BSE, Mcleod Russel India informed that Phu Ben Tea Company Ltd, a step-down subsidiary in Vietnam, has signed an agreement for purchase of a tea processing factory in Vietnam "for a consideration of USD 820,000 plus VAT at the applicable rate".
The processing unit has an annual production capacity of 6 lakh kg of green tea.
Kolkata-based Mcleod Russel India posted a net profit of Rs 128.66 crore for the quarter ended December 31, 2013 compared to Rs 123.15 crore in the year-ago period. Total income has increased to Rs 486.53 crore from Rs 457.04 crore during the period under review.
