BENGALURU: MTR Foods, controlled by Norway-based Orkla Foods, on Tuesday announced the launch of its new brand identity. The company has a facility at Bommasandra here.
Emphasising on the need for rebranding, Sanjay Sharma - CEO, MTR Foods, said, “While the new brand identity better represents where the company is today, our detailed growth strategy will make MTR ready for the future.”
MTR Foods had seen investments of about Rs 230 crore from Orkla, which went towards technology update and expand the capacity of the plant from about 20,000 tonnes per annum to 45,000 tonnes per annum.
Orkla said that over the next three to four years, it will invest Rs 200 crore in MTR Foods. The company will enhance capacity from 45,000 tonnes to about 72,000 tonnes with state-of-the-art equipment and quality infrastructure.
Since taking a majority stake in MTR Foods, the Rs 33,0000-crore Orkla Foods has been focusing on streamlining the systems and processes.
Atle Vidar, Executive Vice-President and CEO, Orkla Foods, told Express: “We have been able to increase productivity by some 30%. At the same time we have brought down costs by 10%.”
Orkla, which has 105 factories in all, is also said to be considering introducing of some of its aspirational brands for the Indian market. The firm has seen a 28 per cent rise in its market in North, while in the south it grew about 18 per cent.
Meanwhile, as part of their growth strategy, the company also announced the opening up of their new e-commerce platform that will give consumers access to the entire range of the company’s 140 plus products.