Brief: Aries Agro unit Golden Harvest to now focus on trading activity operating from Sharjah

Aries Agro (CN)

23/11/2016 09:27

Nov 23 (Reuters) - Aries Agro Ltd  ARAI.NS  
    * Change in import duty scenario in india has made 
manufacturing at co's unit Golden Harvest Middle East Fzc,  UAE, 
expensive 
    * Says the unit decided to change its status from 
manufacturing and focus on trading activity to be operated from 
Sharjah, U.A.E. 
    * Says also exploring avenues to maintain total capacity 
utilization for manufacture from facilities loacted in India 
    * Says factory premises, plant,equipment being disposed 
off;proceeds to be utilized to meet immediate,medium term fund 
requirement of unit 
 
Source text: http://bit.ly/2geW4b1 
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