Tata Global Beverages mulling restructure of China venture

Kolkata, Aug 24 (IANS) Tata Global Beverages Ltd (TGBL) is considering the restructuring options of its China operations, company Chairman Cyrus P. Mistry said on Wednesday.

“The China venture is something that we will be looking at restructuring. In what way that restructuring will be done is yet to be seen. We are exploring multiple options,” Mistry said while in response to a shareholder’s query at the company’s 53rd Annual General Meeting.

Challenges exist in the China joint venture operations, Zhejiang Tata Tea Extraction Company Ltd. “Delays continue in stabilisation of the China business,” said the company’s latest annual report.

“Going forward, stabilising the production process and establishing a pipeline of external customers and successful scaling of technology will be key to the success of the project.

“In view of the continued uncertainty of the business, your company is evaluating various options for restructuring the business,” it said.

–IANS

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