Hayleys to venture into instant tea
View(s):Hayleys PLC, through its subsidiary Kelani Valley Plantations PLC is to venture into the instant tea market, officials said.
Hayleys subsidiary Dipped Products PLC in its quarterly financial statements earlier this month announced that Kelani Valley Plantations has set up a new company, Hayleys Global Beverages Ltd (HGBL) to process and manufacture Ready to Drink Tea (RDT).
“We’re in the process of sourcing machines and setting the company up. It’s in its nuts and bolts stage now,” a company official told the Business Times. He said that for the past six months they have been doing research, looking at various options in order to get this project going. He added that numbers involved are not yet tabled, but it’ll be well over a billion rupees.
“We’ll source BM Mannings Tea grade tea from our own tea estates and value to it,” he said, adding that there’s a huge potential for RDTs in the global market.