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Sri Lanka’s C W Mackie in fruit drink JV with Denmark’s Co-Ro

Rana

Rana: Top contributor; Posts : 1786
Join date : 2015-12-16

Post n°1

Sri Lanka’s C W Mackie in fruit drink JV with Denmark’s Co-Ro

by Rana Mon Feb 27, 2017 6:44 pm

ECONOMYNEXT – C W Mackie PLC, the Sri Lankan partner of Denmark’s Co-Ro A/S, has struck a joint venture deal with the Danish provider of fruit-based soft drinks, home-freeze ice-lollies and concentrates to manufacture and sell Co-Ro products.

Two firms are to be set up under the joint venture to make concentrates and ready-to-drink products marketed under the Sunquick brand, a stock exchange filing said.

The agreement “provisionally envisages an investment of Rs1.1 billion jointly,” it said.

Two firms are Sunquick Lanka (Private) Ltd in which CW Mackie will hold 49% and Co-Ro 51% and Sunquick Lanka Properties (Private) Ltd. with Co-Ro holding 49% and CW Mackie 51%.

CW Mackie now bottles and distributes Sunquick concentrated squashes in Sri Lanka under its 40-year partnership with Co-Ro.
(COLOMBO, Feb 27, 2017)
http://www.economynext.com/Sri_Lanka%E2%80%99s_C_W_Mackie_in_fruit_drink_JV_with_Denmark%E2%80%99s_Co_Ro-3-7437.html

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