Colgate-Palmolive sells Nepal unit to Everest Hygiene Products

New Delhi, Nov 20 (UNI) Oral care company Colgate Palmolive India today said it has transferred its shareholding in its Nepal unit to Everest Hygiene Products.

''All employees of Colgate-Palmolive (Nepal) would continue their employment on the existing terms and conditions under the new ownership," the company said in a statement.

However Colgate-Palmolive will continue sourcing toothpowder from the latter's factory in Nepal, it added.

The sourcing will help maintain continuity of operations of the plant and exports from Nepal.

UNI AK MP KN2028