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Mcleod Russel (India)
Sell mcl
Posted by :
subodhTracked by: 0 Boarder
I was asking you about Morison? McLeod buying this is a small step if they are up to something ......
In reply to:
Sell mcl
Posted by :
tibusa
true mcl has brough stake in vietnam tea company .what this mean 
McLeod Russel set to buy Vietnamese tea company
Posted by : day_traderTracked by: 0 Boarder
McLeod Russel India Ltd is set to clinch an acquisition overseas — a long cherished dream of the company. It has decided to acquire 100 per cent equity in Phu Ben Tea Co of Vietnam through its wholly-owned UK-based subsidiary Borelli Tea Holdings Ltd.
“This will be certainly our first foray into a foreign country and, for that matter, for any Indian tea plantation company,” Mr Aditya Khaitan, Managing Director of McLeod Russel, told newspersons on Friday.
He estimated the cost of acquisition at about $7 million, to be paid in four instalments; $2 million would be paid initially and the rest paidin three equal annual instalments during the end of 2009, 2010 and 2011 respectively.
Belgian owner
Phu Ben Tea Co, which produces 4.5 million kg of CTC black tea annually and has an annual turnover of about Rs 25 crore, is owned by SA SIPEF NV of Belgium which has major interests in rubber and palm oil. “The Belgian company has another tea garden, producing 3 million kg annually, in Indonesia but that is not up for sale,” said Mr Khaitan. “We will be offered first as and when it is put on sale.”
Production at Phu Ben Tea Co, which has three processing factories, would be stepped up from 4.5 million kg at present to 6 million kg within the next two years and 12 million kg in four years, said Mr Khaitan. The company owns 1,000 hectares, of which 80 per cent is under plantation, and plans to acquire another 1,000 hectares. The size of investment is still being worked out but the modernisation of the factories might initially cost around $1 million.
To meet export orders
The acquisition will boost the total tea production of McLeod Russel and its subsidiaries to more than 80 million kg annually. “The acquisition is in tune with our roadmap laid out in 2005 when we made our first acquisition domestically,” said Mr Khaitan, pointing out that the entire production of the Vietnamese company would go to meet export commitments.
With domestic tea prices in India is set for steady increases in the coming years, the domestic production would be increasingly used to meet domestic demand.
For the export market, which is price competitive, low-cost sourcing of tea is crucial and the acquisition of the Vietnamese company was therefore most appropriate, he said, adding that overseas buyers too had reacted positively to the proposed acquisition.
“Our vision is to become a global producer of tea,” Mr Khaitan said....
Sell mcl
Posted by : tibusaTracked by: 0 Boarder
true mcl has brough stake in vietnam tea company .what this mean ...
In reply to:
Sell mcl
Posted by : subodh
Are you still holding on to JL Morison? I told you these Kolkata promoters are a bunch of crooks ... They don`t even send the annual reports. Their plan is to buy 99.99% shares and then run it up one sided ...
NSE Announcements on Mcleod Rus
Posted by : MMB MessengerTracked by: 0 Boarder
Mcleod Russel India Limited has informed the Exchange that at a meeting held on October 03, 2008, the Board of Directors of the Company has appointed Mr. Balaji Swaminathan as an Additional Director with immediate effect....
BSE Announcements on Mcleod Rus
Posted by : MMB MessengerTracked by: 0 Boarder
Mcleod Russel India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 03, 2008, has appointed Mr. Balaji Swaminathan as an Additional Director with immediate effect....
Sell mcl
Posted by : subodhTracked by: 0 Boarder
Are you still holding on to JL Morison? I told you these Kolkata promoters are a bunch of crooks ... They don`t even send the annual reports. Their plan is to buy 99.99% shares and then run it up one sided ......
In reply to:
Sell mcl
Posted by : tibusa
gautam you are right script will certainly reach the target you see some of their diversification plan in branded tea plus jathropa cultivation which can be used as addative in diesel just like ethanol in petrol mcl has huge land under cultivation for this crop long term prospect on this will balance out cyclical nature of tea business
NSE Announcements on Mcleod Rus
Posted by : MMB MessengerTracked by: 0 Boarder
Mcleod Russel India Limited has informed the Exchange vide its letter dated October 03, 2008 that "Borelli Tea Holdings Limited (Borelli), the 100% Subsidiary of the Company, has today signed a Term sheet with SA SIPEF NV of Belgium for acquisition of 100% equity stake in Phu Ben Tea Company of Vietnam at a cost of US $ 2 million. In addition, Borelli will have to arrange a Bank Guarantee to secure repayment of inter-company balance of US $ 5.01 million granted by the Seller to Phu Ben Tea Company. The inter-company balance shall be paid by Phu Ben Tea Company within three years in equal installments at the end of 2009, 2010 and 2011. Phu Ben Tea Company is engaged in growing, manufacturing and selling of Tea and produces around 4.5 million kgs. of Tea annually in the three Tea Processing Factories owned by it"....
BSE Announcements on Mcleod Rus
Posted by : MMB MessengerTracked by: 0 Boarder
Mcleod Russel India Ltd has informed BSE that Borelli Tea Holdings Ltd (Borelli), the 100% Subsidiary of the Company, on October 03, 2008 has signed a Term Sheet with SA SIPEF NV of Belgium for acquisition of 100% equity stake in Phu Ben Tea Company of Vietnam at a cost of US $ 2 million. In addition, Borelli will have to arrange a Bank Guarantee to secure repayment of inter-company balance of US $ 5.01 million granted by the Seller to Phu Ben Tea Company. The inter-company balance shall be paid by Phu Ben Tea Company within three years in equal instalments at the end of 2009, 2010 and 2011. Phu Ben Tea Company is engaged in growing, manufacturing and selling of Tea and produces around 4.5 million kgs. of Tea annually in the three Tea Processing Factories owned by it....
Tracked by: 0 Boarder
gautam you are right script will certainly reach the target you see some of their diversification plan in branded tea plus jathropa cultivation which can be used as addative in diesel just like ethanol in petrol mcl has huge land under cultivation for this crop long term prospect on this will balance out cyclical nature of tea business ...
In reply to:
Sell mcl
Posted by :
gautam56
I do not agree with your views. In the next few trading sessions, this script will breach Rs.95/- and has the potential to get past Rs.110/-.
In the medium term, one can expect the script to reach the level of Rs.190/- to Rs.210/-. The second quarter results will vouch for the projected market price of shares.
Sell mcl
Posted by : GuestTracked by: 0 Boarder
Sell MCL - Will the stock come down to 80? Please advice, I am considering investing more in this stock. I think if it comes to 75, then one should not invest in any stock. Should sit on cash.
Markets will take atleast 5 to 7 years to look normal....
In reply to:
Sell mcl
Posted by : gautam56
I do not agree with your views. In the next few trading sessions, this script will breach Rs.95/- and has the potential to get past Rs.110/-.
In the medium term, one can expect the script to reach the level of Rs.190/- to Rs.210/-. The second quarter results will vouch for the projected market price of shares.
Sell mcl
Posted by : gautam56Tracked by: 0 Boarder
I do not agree with your views. In the next few trading sessions, this script will breach Rs.95/- and has the potential to get past Rs.110/-.
In the medium term, one can expect the script to reach the level of Rs.190/- to Rs.210/-. The second quarter results will vouch for the projected market price of shares....
In reply to:
Sell mcl
Posted by : Guest
The immediate target of mcl is 84. Sell it.
you are right sell mcl target is 82.
Posted by : f1998383Tracked by: 0 Boarder
see the intraday doentrend of mcl. sell mcl target 82 today....
Tracked by: 0 Boarder
The immediate target of mcl is 84. Sell it. ...
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