Tata Chemicals, Total Produce to form JV
February 12, 2007

Tata Chemicals (TCL) and Total Produce have entered into an agreement to form a 50 / 50 joint venture company in India. The objective of the JV is to create state-of-the-art distribution facilities for fresh fruit and vegetables across India by leveraging the individual strengths of both partners. Total Produce is Europe's largest fresh produce company.

Both parties view the JV as an opportunity to bridge the gap between producer and end consumer, which will significantly increase efficiencies, improve shelf-life and reduce product loss in the supply chain. This new venture will help Indian farmers to improve their incomes and develop the skills needed to raise the quality of Indian farm produce.

Homi Khusrokhan, managing director, TCL, said, "We are very pleased to announce our entry into fresh produce. The experience of our TKS network gained over the years, coupled with expertise in agronomy, gives us a unique edge in this business. Total Produce brings with it a wealth of knowledge, experience and a proven track record of success in this sector. We are delighted to partner with them in this new and exciting venture to take fruit and vegetable production and distribution in India to international standards and, at the same time, ensure improved incomes for farmers."

Carl McCann, chairman of Total Produce, added, "We are very pleased to have entered into the joint venture with a company belonging to a highly reputable Group like Tata. We believe that India with its fast growing economy and one of the world's largest populations provides great potential to build a large and successful business. India is in addition one of the largest producers of fresh produce in the world."