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Sweetwell Forays into India to Invest 15 Million Euros in 5 Years
Wednesday, 15 February 2012, 20:16 IST
New Delhi: Belgium-based sweetener maker Sweetwell announced entry into India with plans to invest around 15 million euros (nearly 
100 crore) in the next five years for manufacturing and marketing initiatives.
The company, which has set up a subsidiary in India -- Sweetwell India Pvt Ltd -- also expects to achieve a turnover of 100 crore in the next five years.
"We are looking to invest 15 million euros on marketing and to set up a factory in India. With this, we expect to achieve a turnover of Rs 100 crore in the next five years," Sweetwell India CEO Deepak Chandak told reporters here.
Sweetwell, which has facility in Costa Rica, manufactures sweetener products that are currently sold in Europe and Latin America.
For India, the company has finalised the national capital region for setting up a greenfield manufacturing unit.
In the meantime, Sweetwell plans to introduce products here in the next couple of months, and cover the entire country by the end of this year.
"We plan to start selling products here by April-May. We will import the products till our manufacturing plant here gets ready for production," Sweetwell Worldwide CEO Carlos Mateo said.
Source: PTI
100 crore) in the next five years for manufacturing and marketing initiatives.
The company, which has set up a subsidiary in India -- Sweetwell India Pvt Ltd -- also expects to achieve a turnover of 100 crore in the next five years.
"We are looking to invest 15 million euros on marketing and to set up a factory in India. With this, we expect to achieve a turnover of Rs 100 crore in the next five years," Sweetwell India CEO Deepak Chandak told reporters here.
Sweetwell, which has facility in Costa Rica, manufactures sweetener products that are currently sold in Europe and Latin America.
For India, the company has finalised the national capital region for setting up a greenfield manufacturing unit.
In the meantime, Sweetwell plans to introduce products here in the next couple of months, and cover the entire country by the end of this year.
"We plan to start selling products here by April-May. We will import the products till our manufacturing plant here gets ready for production," Sweetwell Worldwide CEO Carlos Mateo said.
Source: PTI