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. To further expand its business and better service its customers, LT Foods has made further investment in expansion of packaging capabilities by commissioning additional packing lines. This expansion is in line with five-year growth strategy of the Company.
The inauguration ceremony for new packaging line was attended by His Excellency Mr. Venu Rajamony - Ambassador of India to The Netherlands along with Mr. V K Arora, Chairman LT Group and Mr. V Magoon, Managing Director LT Foods Europe BV.
Commenting on the inauguration, Chairman, Mr. Vijay Kumar Arora said that, - "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."
Shares of LT FOODS LTD. was last trading in BSE at Rs.52.5 as compared to the previous close of Rs. 52.65. The total number of shares traded during the day was 244814 in over 1525 trades.
The stock hit an intraday high of Rs. 53.35 and intraday low of 51.9. The net turnover during the day was Rs. 12877036.