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OUR BUSINESSES > TATA COMPANIES > TATA GLOBAL BEVERAGES > MEDIA REPORTS

September 20, 2005 | Business Standard

The merger will compensate for the recent divestment in tea gardens. Tata Tea

today sought shareholders' approval for the merger of Tata Tetley with itself in an

attempt to compensate for revenue loss after it recently divested a part of its

portfolio of tea gardens. The approval was sought through postal ballots, and the

company will announce the results in the next 48 hours. Speaking on the

sidelines of the company's extra-ordinary general meeting, Tata Tea Managing

Director Percy Siganporia said, the company wanted to grow the tea-bag

business, which was under Tata Tetley. He, however, refused to give details.

Siganporia said, the benefits of the merger would come in the third or the fourth

quarter of the current financial year. The tea-bag business under Tata Tetley

cater to markets like Poland, Australia, Russia and China, which will now allcome under Tata Tea. The merger would bring about more efficient and better

utilisation of available resources, he said. After the acquisition of Tetley, the

company moved its Australian operations into Tata Tetley and ramped up the

capacity of the plant.

The entire manufacturing operations of Tetley, Australia, located at Yara, were

shut down and transferred to the export oriented unit (EOU) in Kochi with the

idea that the factory would source tea from across regions, add value and then

market the product. Tata Tetley became a subsidiary of Tata Tea as a

consequence of the acquisition of Tetley in 2000. The company was incorporated

during 1992 and after the formation of the joint venture between Tata Tea and

The Tetley Group, UK, the business of the Tetley division of Tata Tea was

transferred to the joint venture company in 1994.

Post-acquisition, the company eased out the Tata Tetley brand from thedomestic market so that Tata Tetley could focus on exports. The company's role

in the domestic market is now restricted to that of a tea-bag convertor for Tata

Tea, which launched the "Tetley" brand tea-bags under a brand license

agreement with The Tetley Group.

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