Amira Nature Foods Ltd Announces Launch of Organic Business Division Organic and Agribusiness Industry Veteran to Accelerate Growth of Amira Value Added Product Offering Business Wire DUBAI, United Arab Emirates -- June 17, 2013 Amira Nature Foods Ltd (the "Company")(NYSE: ANFI), a leading global provider of packaged Indian specialty rice, today announced the launch of the Amira Organic business division to build upon the strength of the Amira brand product offering and capitalize on the growing global demand for organic packaged foods. The new Organic business division is comprised of an experienced team of professionals led by Mr. Ajay Katyal, President of the Organic Division, and effective June 10, 2013. Mr. Katyal brings over 23 years of organic and agribusiness experience to the Company and most recently built a successful international organic packaged food business. Mr. Katyal has expertise in creating and managing business units, from field coordination with farmers on quality testing and certifications, to the development of sales and distribution systems for the international market. Mr. Katyal will report directly to Karan A. Chanana, the Company’s Chairman and Chief Executive Officer. “We welcome Ajay to our team and believe his extensive strength in building organic packaged food businesses, from coordination with the farmers to the consumers’ table, will help to further increase sales and margins long-term as we leverage our existing India and international distribution network with our organic value added Amira brand products,” stated Karan A. Chanana. “Similar to the demand for rice, the demand for organic packaged foods continues to grow globally and we believe Amira is well positioned to take advantage of these future growth opportunities as we increasingly provide a broader assortment of value added food products to serve the international market’s consumer preferences and local tastes.” About Amira Nature Foods Founded in 1915, Amira has evolved into a leading global provider of packaged Indian specialty rice, with sales in over 40 countries today. Amira sells Basmati rice, premium long-grain rice grown only in certain regions of the Indian sub-continent, under their flagship Amira brand as well as under other third party brands. Amira sells its products primarily in emerging markets through a broad distribution network. Amira’s headquarters are in Dubai, United Arab Emirates, and it also has offices in India, Malaysia, Singapore, the United Kingdom, and the United States. Cautionary Note on Forward-Looking Statements This release may contain forward-looking statements within the meaning of the U.S. federal securities laws. These forward-looking statements generally can be identified by phrases such as that we or our members of management “believe,” “expect,” “anticipate,” “foresee,” “forecast,” “estimate” or other words or phrases of similar import. Specifically, these statements include, among other things, statements that describe our expectations for the influence of key personnel in growing our business, the growth of the global organic packaged foods market, the financial impact of new sales contracts on our revenue, our expectations regarding the successful efforts of our distribution partners, and other statements of management’s beliefs, intentions or goals. It is uncertain whether any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what impact they will have on our results of operations, financial condition, or the price of our ordinary shares. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those indicated in such forward-looking statements, including but not limited to our ability to retain key personnel, our ability to penetrate and increase the acceptance of our products in new geographic markets, our ability to perform our agreements with customers; our ability to recognize revenue from our contracts; continued competitive pressures in the marketplace; our reliance on a few customers and distribution partners for a substantial part of our revenue; our ability to implement our plans, forecasts and other expectations with respect to our business and realize additional opportunities for growth; and the other risks and important factors contained and identified in our filings with the Securities and Exchange Commission. All forward-looking statements attributable to us or to persons acting on our behalf are expressly qualified in their entirety by these risk factors. Other than as required under the securities laws, we undertake no obligation to update any forward-looking or other statements herein, whether as a result of new information, future events or otherwise. Contact: ICR John Mills/Katie Turner, 646-277-1200
Amira Nature Foods Ltd Announces Launch of Organic Business Division
Press spacebar to pause and continue. Press esc to stop.