Printer Friendly

PROCTER & GAMBLE AND GODREJ SIGN AGREEMENT IN INDIA

 CINCINNATI, Dec. 17 /PRNewswire/ -- The Procter & Gamble Company (NYSE: PG) and the Godrej Group announced they have signed an agreement to work together to manufacture, market, sell and distribute detergents, soaps and other consumer products in India.
 The two companies will form a joint venture to be called P&G Godrej. The joint venture will market, sell and distribute Godrej and P&G toilet soap products; take over sales and distribution of other cleaning and personal care products manufactured and marketed by P&G and Godrej; and manufacture synthetic detergents. Also under the agreement, P&G India will acquire Key and Trilo detergent product trademarks from Godrej Soaps Ltd., a member of the Godrej Group.
 P&G will hold 51 percent equity in the joint venture and be responsible for its management. P&G's total investment will be $22 million.
 "Godrej is an outstanding company," said John E. Pepper, president, the Procter & Gamble Company. "This venture gives us immediate entry into the large bar soap category in India and strengthens our presence in the laundry detergent business there, which we first entered in 1991 with the launch of Ariel. Godrej's 60 years of experience operating in the Indian market and its strong sales and distribution organization, combined with P&G's global experience and technology provide the basis for an important strategic alliance for our companies."
 Godrej Soaps Ltd. is a family owned business headquartered in Bombay. The company is a leading manufacturer of soaps and other consumer goods products in India including Cinthol Soap, the market leader in its category. Some of its other known soap brands include Vigil, Evita, Marvel and Ganga. Godrej Soaps Ltd. will continue to separately operate its other businesses in India, including chemicals and biotechnology.
 "Procter & Gamble is a world renowned company in the field of soaps, detergents and toiletries," said Adi B. Godrej, managing director, Godrej Soaps Ltd. "We are very happy to have entered into a major strategic alliance and joint venture company with P&G. P&G's strengths in research and development, marketing and human resource development, will help the strategic alliance become a major force in the rapidly growing Indian consumer products industry."
 P&G India Ltd., which began operations in 1964, will continue to manufacture and market its current product line which includes Ariel detergent, the Vicks line of cough/cold products, Whisper feminine protection pads, Mediker shampoo, Clearasil acne treatment and Oil of Olay skin cream.
 In September, Procter & Gamble worldwide reached the milestone of $30 billion in annual sales. The company makes and markets a wide range of products for both consumer and institutional use worldwide. The international business now accounts for about 50 percent of the company's sales. P&G has operations on the ground in 54 countries, and sells its products in more than 140 countries.
 -0- 12/17/92
 /CONTACT: Terry E. Loftus, 513-983-9789; or William F. Dobson, 513-983-9546; both of Procter & Gamble/
 (PG)


CO: Procter & Gamble ST: Ohio IN: HOU SU: TNM

KK -- CL006 -- 8074 12/17/92 09:27 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 17, 1992
Words:507
Previous Article:BP PERFORMANCE POLYMERS INC. SOLD TO NESTE CHEMICALS
Next Article:DELTA CONNECTION, COMAIR ANNOUNCES AN INTRODUCTORY FARE ON NEW NONSTOP SERVICE BETWEEN FT. LAUDERDALE AND TALLAHASSEE, FLA.
Topics:


Related Articles
P&G ANNOUNCES EXECUTIVE CHANGES
P&G ANNOUNCES EXECUTIVE CHANGES
PROCTER & GAMBLE ANNOUNCES EXECUTIVE CHANGES
P&G NAMES NEW OFFICERS
GODREJ, P&G AGREE TO RESTRUCTURE ALLIANCE
P&G Names New Officers
P&G Signs Letter of Intent to Acquire Paper Business in Taiwan and People's Republic of China.
HOME SOLUTIONS BRIEFS.
Cyclopss Corporation Enters Into Financing Agreement.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters