AgroTech Foods increases Indian production
India-based food company, AgroTech Foods, will invest US$18.52million in expanding its production capacity as well as launch new high-margin products over the next two to three years, in a bid to become a diversified food company.
AgroTech Foods is currently focused on the edible oil sector, but it plans to launch other higher margin products such as ready-to-eat meals, canned oil sprays, peanut butter, chocolate desserts and puddings.
The company currently has two plants in India and plans to expand this to six facilities in total.
Sacchin Gopal, CEO of the company said that the company plans to increase shares in both its good business and gross margins for the benefit of its shareholders.
US food company ConAgra recently raised its stake to over 50% in the Indian food company.
