Britannia not moving its corporate office out of WB says Amit Mitra
The Hindu
Britannia Industries confirms commitment to West Bengal, dispelling rumors of moving corporate office out of state.
Allaying fears that Britannia Industries Limited was moving out of West Bengal, Amit Mitra, Special Advisor to Chief Minister of West Bengal on Finance, said on Wednesday that the management of the FMCG major has informed him that the company was not moving its corporate office out of West Bengal.
Dr. Mitra told The Hindu that Britannia MD and CEO Varun Berry reached out to him and said, “Britannia as a company is fully committed to West Bengal”.
The remarks by the former Finance Minister of West Bengal assume significance amidst reports that the company was closing its iconic Taratala factory which has been functional since 1947. In an intimation to the stock exchanges on June 20, the company informed that all permanent workers of the Taratala factory had accepted the voluntary retirement scheme. According to sources the 122 permanent employees of Britannia have agreed for VRS with a severance package between ₹13-22 lakhs. Talks are on between the management and contractual employees of the Taratala factory for a settlement.
Describing reports of the company moving its business out of West Bengal as “ill informed and false”, Dr. Mitra said that Mr. Berry assured him the company’s registered office will remain in Kolkata and its shareholders meeting will continue to be held in Kolkata. The registered office of Britannia Industries Limited is 5/1A Hungerford Street, Kolkata.
Quoting the MD and CEO of Britannia, Dr. Mitra said, “We want to build Britannia’s business from strength to strength in West Bengal”.
He added that Mr. Berry has said that he will hold talks with the State government on building business in the State. Dr. Mitra said the Britannia official told him that the company was producing biscuits and other snacks and dairy items worth ₹1000-1200 crore and it would continue to produce food items of similar quantity.
On the closure of the Taratala factory, he said that in 2018 Nusli Wadia had come to Kolkata and made public statements that the operation of the unit was turning out to be commercially non-viable.
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