Flex Foods Ltd Company Summary

Flex Foods Ltd Summary

Flex Foods Ltd, a part of Flex Group was incorporated on 5th February, 1990. The Company is engaged mainly in the business of cultivation and processing of Mushrooms, Herbs, Fruits & Vegetables in Freeze Dried, Air Dried and Individually Quick Frozen form. Flex Foods Ltd. has been selling its products mainly to the European and US markets. FFL put up an Export Oriented Unit, in this regard to cultivate 1520 tpa of button mushrooms(for captive consumption) and manufacture 200 tpa of freeze-dried vegetables and fruits at Doon Valley during year 1992. This project was part-financed by a public issue of secured redeemable PCDs, aggregating Rs 6.40 cr. The products used in industries were soups, sauces / dips, baby foods, breakfast cereals, and ice creams, besides the institutional and consumer markets. FFL utilised 80% of its production capacity for mushrooms, and the rest for other vegetables and fruits.Thereafter, it signed an agreement in May 91 with Agrisystems Engineering & Consultants, Netherlands, to train and guide its employees in the mushroom cultivation project. It started commercial production of various freeze dried herbs and during year 1999-2000 about 40% of its capacity of which got utilized for herbs production. The Companys technical collaboration and buy-back agreement with M/s Danish Freeze Dry, Denmark became quite sufficient to achieve the target for freeze dried herbs.