31st Mar 2006 15:59
Fyffes PLC31 March 2006 Stock Exchange Announcement Fyffes forms joint venture with Suri Group in India Fyffes is pleased to announce that it has formed a 50:50 joint venture with SuriFruit Agency (Suri), the leading distributor of high altitude fruits,particularly apples, in Northern India. The new company is called Suri AgroFresh Pvt Ltd. and will be managed by Mr Sudhir Suri and Mr Hitin Suri. It is tobe based in Delhi, India. It will have net assets of approximately €300,000 andturnover in the order of €6 million. Suri has been in existence for more than 50 years and has a supply base of over1,500 growers. Carl McCann, Chairman of Fyffes, stated: "We have been trading with India for many years and this is Fyffes' first directinvestment in that country. Suri is highly respected in the produce business inIndia." Sudhir and Hitin Suri stated: "Fyffes is an important international company and we are happy to consolidatethis relationship by becoming part of the Fyffes Group. We are confident thatthis co-operation will strengthen the position we currently hold in India andenable us to capitalise on the expanding fresh produce market here." 31 March 2006 For further information, please contact: Brian Bell, Wilson Hartnell PR Tel: +353-1-669 0030 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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