The company informed the exchanges on Tuesday that the inauguration ceremony for new packaging line was attended by Venu Rajamony – Ambassador of India to The Netherlands along with V K Arora, Chairman LT Group and V Magoon, Managing Director LT Foods Europe BV.
LT Foods Europe commenced its operations in the Netherlands in 2017 to serve the European market. The company sells a wide range of rice including popular varieties like Basmati, Thai Jasmine, Long Grain rice from this plant.
“The company is located at Maasvlakte, Rotterdam which enjoys a locational advantage for rice import and distribution across Europe. Since its commencement 3 years back, LT Foods has expanded its customer base and has established its footprint across many countries in Europe,” company said.
“I believe that this investment will allow us to further grow our footprint in Europe and become No.1 supplier of the finest basmati from India & Pakistan. Our gratitude goes to our key retail partners who have supported us through this expansion phase,” Arora said.
L T Foods Ltd ended at Rs53.75 per piece up by Rs1.25 or 2.38% from its previous closing of Rs52.50 per piece on the BSE.