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Article: SRI LANKA'S BOGAWANTALAWA IN US TEA DEAL WITH MULTINATIONAL.
- Article from:
- AsiaPulse News
- Article date:
- August 17, 2009
CopyrightCOPYRIGHT 2009 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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COLOMBO, Aug 17 Asia Pulse - Sri Lankan tea growing and marketing company Bogawantalawa Tea Estates said in a statement it was in talks with a multinational to sell packaged tea in the United States.
The company statement came in response to a query from the Colombo stock exchange on a sharp increase in the firm's share price.
"We understand that the market has learnt of on-going negotiations with our partner in the US to supply a multinational with tea in packaged form by the wholly owned subsidiary BPL Teas," the statement said.
"Only sample shipments have been made so far. No formal agreements ...