HLL to merge Modern Foods

Mumbai, Sep 8: FMCG major, Hindustan Lever (HLL) today said that it's board has approved spinning off some plantations and merging Modern Food Industries and its subsidiary Modern Food and Nutrition Industries with the company.

The company said in a statement that the merger of Modern Food and its subsidiary will be effective from October 1, 2006.

It will also spin off factory land at its plantations in Jamnagar in Gujarat, Shamnagar in West Bengal, and vacant land at Daverashola in Tamil Nadu into three separate companies the statement added.

HLL has been divesting non-core assets to focus on it portfolio of big brands like Lux soap, Sunsilk shampoo, Surf detergent and Lipton tea.

UNI