KOLKATA: The new chairman of Tata Sons reiterated his commitment to West Bengal
even as a legal tussle over the state government efforts to acquire 997
acres of land, leased to the Tatas for the Nano car plant at Singur,
continues in the Supreme Court. "We have never left Bengal and we will
never leave Bengal" Tata Sons chairman Cyrus Mistry told Tata Global BeveragesBSE 4.27 % shareholders at the company's 50th annual general meeting in the city on Monday.
This was Mistry's maiden visit to the city after he took over the reins at Bombay House as the chairman of the group. His comment came on a day when Singur was voting in the panchayat polls. The Trinamool had used the Singur land issue to win the last assembly elections in 2011. The Tatas were forced to shift the Nano factory from Bengal on October 3, 2008 following intense protests against acquisition of farmlands led by Banerjee, who demanded that the then Left Front government should return 400 acres which it had allegedly taken from unwilling farmers by force.
After Banerjee took charge of the Writers' Buildings in May 2011, she passed the Singur Land Rehabilitation and Development Bill, 2011, and acquired 997 acres at Singur. Tatas then moved to the court challenging the state government's move. The case is now before the Supreme Court and the next hearing is expected to take place on August 6. At the last hearing, the Supreme Court has asked if the Tatas would consider returning the land. Mistry avoided direct answers to questions on whether Tatas would stay in Singur or ask for compensation from the West Bengal government. "I cannot comment on it. The matter is sub-judice," Mistry said.
Earlier, Mistry and his top brass spoke about the company's future plans and its current performance. Incidentally, RK Krishna Kumar, vice-chairman of the company, who has been associated with the Tata Group for nearly five decades will retire on July 18 when he turns 75. Krishna Kumar said that in the next three years Tata Global aims to become a $5-billion company through acquisitions in the beverage space. "At least a couple of acquisitions are there in the pipeline," he said.
Mistry is extremely upbeat about the company's joint venture with Starbucks. The Tata Starbucks venture has already opened 12 stores in Mumbai and New Delhi. "We are now investing in the venture and we are expecting to break even within a couple of years," Mistry said. Apart from Canada, Tata Global has done well in most markets where they are present with offering such as tea, coffee and speciality teas. Australia has been the star performer while in the US there has been a significant profit increase in the coffee business due to lower green coffee costs.
Mistry said that there will be more investments in brands and strong campaigns will be launched to further strengthen the company's brands. "We will shortly launch Tata Water Plus brand nationally and take our Himalaya brand to the global markets," he said.
Added Harish Bhat, managing director of the company: "We have opened a new tea manufacturing unit in Sampla in Haryana to cater to the domestic market where we enjoy a 22.2% market share." He also said that if the price of tea goes up then the company will pass it to the consumers. "We did so in FY13," he said.
This was Mistry's maiden visit to the city after he took over the reins at Bombay House as the chairman of the group. His comment came on a day when Singur was voting in the panchayat polls. The Trinamool had used the Singur land issue to win the last assembly elections in 2011. The Tatas were forced to shift the Nano factory from Bengal on October 3, 2008 following intense protests against acquisition of farmlands led by Banerjee, who demanded that the then Left Front government should return 400 acres which it had allegedly taken from unwilling farmers by force.
After Banerjee took charge of the Writers' Buildings in May 2011, she passed the Singur Land Rehabilitation and Development Bill, 2011, and acquired 997 acres at Singur. Tatas then moved to the court challenging the state government's move. The case is now before the Supreme Court and the next hearing is expected to take place on August 6. At the last hearing, the Supreme Court has asked if the Tatas would consider returning the land. Mistry avoided direct answers to questions on whether Tatas would stay in Singur or ask for compensation from the West Bengal government. "I cannot comment on it. The matter is sub-judice," Mistry said.
Earlier, Mistry and his top brass spoke about the company's future plans and its current performance. Incidentally, RK Krishna Kumar, vice-chairman of the company, who has been associated with the Tata Group for nearly five decades will retire on July 18 when he turns 75. Krishna Kumar said that in the next three years Tata Global aims to become a $5-billion company through acquisitions in the beverage space. "At least a couple of acquisitions are there in the pipeline," he said.
Mistry is extremely upbeat about the company's joint venture with Starbucks. The Tata Starbucks venture has already opened 12 stores in Mumbai and New Delhi. "We are now investing in the venture and we are expecting to break even within a couple of years," Mistry said. Apart from Canada, Tata Global has done well in most markets where they are present with offering such as tea, coffee and speciality teas. Australia has been the star performer while in the US there has been a significant profit increase in the coffee business due to lower green coffee costs.
Mistry said that there will be more investments in brands and strong campaigns will be launched to further strengthen the company's brands. "We will shortly launch Tata Water Plus brand nationally and take our Himalaya brand to the global markets," he said.
Added Harish Bhat, managing director of the company: "We have opened a new tea manufacturing unit in Sampla in Haryana to cater to the domestic market where we enjoy a 22.2% market share." He also said that if the price of tea goes up then the company will pass it to the consumers. "We did so in FY13," he said.
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