Moet Hennessy will set up wholly owned subsidiary
New Delhi: In anticipation of the lifting of quantitative restrictions, Moet-Hennessy, the makers of champagnes and cognacs, will be setting up a 100 per cent subsidiary in India.

The company is planning to convert its representative office into a 100-per cent subsidiary and is believed to be in the process of making an application to the FIPB to this effect.

Moet Hennessy makes various champagnes including the famous Dom Perignon brand. Other champagnes include, Moet and Chandon, Mercier and Ruinart champagnes. Major cognac brands include Hennessy VS, Hennessy VSOP and Hennessy XO.

The company has made this move in light of the fact that when quantitative restrictions are removed from April 1, 2001, liquor, including champagne and cognac, will be available on open general licence (OGL), as against the current practice of being imported a licence for use in duty free shops, embassies and five star hotels.

When this happens, Moet Hennessy initially hopes to reach 250 to 300 outlets in the first year, though over a five-year time period it hopes to be present in 5,000 outlets, which have a licence to sell liquor.
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Wockhardt to increase Vitamin B12 output
Mumbai: As part of its increasing focus on the emerging export market, Wockhardt Ltd is planning to increase its Vitamin B12 production from 2,000 kg per year to 3,750 kg by mid-2001. At present, Wockhardt is exporting Vitamin B 12 to around 25 to 30 countries worldwide.

Vitamin B12 is one of the main ingredients in the food and nutritional supplement and used widely both for human and vetinerary purposes, a segment which is growing at about 12 per cent a year. Domestically, however, the growth rate is around 5 per cent.

The company, which got its Vitamin B 12 production facility when its took over the facilities of Merind, has a manufacturing capacity of 650 kg per month.

Meanwhile, it is learnt that, RPG Life Science, the other main producer of Vitamin B1 and B12 in the country, would commence its production by next month.

The company is using Hindustan Antibiotics' manufacturing facilities at Pune for the purpose and the entire 1,000 kg per year production would be exported.
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