Wadia hopeful of an early solution to IPR issue

Britannia Industries Chairman Nusli Wadia today expressed hope that the Intellectual Property Rights issue with Groupe Danone subsidiary Generale Biscuit would soon be amicably resolved. Wadia was speaking at the company's 89th annual general meeting here. Britannia had initiated legal proceedings in Singapore and Malaysia last year against alleged unauthorised use of its 'Tiger' brand by the Danone subsidiary. Tiger brand was the largest brand of Britannia in terms of contribution to sales in the biscuits segment. Wadia said that as part of its cost rationalisation exercise, the company suspended operations at its Chennai unit and was in the process of consolidating its operations in Oman and Dubai. The biscuit major was reviewing its investments in Daily Bread, which makes premium bakery products, as it was incurring huge losses. The company, Wadia said, would increase prices of its products due to an increase in the rates of main ingredients like wheat and edible oil. By Ms.Bobby Aanand, Metropolitan Jury

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