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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)