Flex Foods Ltd Share Price FMCG
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Flex Foods(FFL), a part of Flex Group( which has interest in diverse areas such as packaging, manufacturin pouches & Machines, investment etc.), is engaged in the processed fruits, vegetables and mushrooms business. FFL has put up an Export Oriented Unit, in this regard to cultivate 1520 tpa of button mushrooms(for captive consumption) and to manufacture 200 tpa of freeze-dried vegetables and fruits at Doon Valley during the year 1992. This project was part-financed by a public issue of secured redeemable PCDs, aggregating Rs 6.40 cr. The products are used in industries like soups, sauces / dips, baby foods, breakfast cereals, and ice creams, besides the institutional and consumer markets. FFL utilises 80% of its production capacity for mushrooms, and the rest for other vegetables and fruits. Flex Foods has signed an agreement in May '91 with Agrisystems Engineering & Consultants, Netherlands, to train and guide its employees in the mushroom cultivation project. The company is also receives assistance from Atlas Industries for mushroom/vegetable/fruit processing. The Company has started commercial production of various freeze dried herbs and during the fiscal year 1999-2000 about 40% of its capacity would be utilized for herbs production. The Company's technical collaboration and buy-back agreement with M/s Danish Freeze Dry, Denmark is quite sufficient to achieve the target for freeze dried herbs. As of March 31, 2001 the company is planning to diversify into fast growing areas of information technologies and other related areas. In this regard, the company has reached an understanding with Cincom Systems Inc. (CSI), USA, a company which controls approximately 85% of the callcentre market and 50% of the telecom customer care and billing market in India.