ISS acquires Shivas Hoteliers and Caterers

Chennai, Nov 23 (UNI) ISS Facility Services India Private Limited, a wholly owned subsidiary of ISS Denmark, today announced acquisition of city-based Shivas Hoteliers and Caterers, strengthening its catering vertical in the country.

Addressing a news conference here, Mr K J Jolly, Country Manager, ISS Facility, said the acquisition was in tune with the Company's vision to become a leading facility provider and strengthen the catering vertical in line with ISS global trends.

He said the Company had spent about Rs 150 crore for acquisition last year and chalked out plans to acquire more companies during 2008, involving a total investment of Rs 200 crore.

After completing the integration process, the Company would launch institutional catering in Chennai, Bangalore, Hyderabad and Kochi, Mr Jolly said.

ISS would launch home care services during the third quarter of 2008 and establish 'Training and Catering Excellence' centres in Bangalore.

The Company's turnover was Rs 170 crore during 2007 and it expected to register a 60 per cent growth during 2008, when the Company would be consolidating its market in catering and cleaning, he said.

UNI