Amira Nature Foods Ltd Announces $30 Million Contract with Repeat Customer
December 27 2018 - 7:00AM
Business Wire
Amira Nature Foods Ltd (the "Company") (NYSE:ANFI), a global
provider of packaged Indian specialty rice, today announced that it
entered into a, approximately $30 million contract, to supply third
party branded basmati rice to a repeat customer in the Europe,
Middle East, and Africa (“EMEA”) region. The Company expects to
recognize the benefit of this contract in the fiscal 2020 ending
March 31, 2020.
“We are extremely pleased to continue our relationships with our
customers in the EMEA region”, stated Karan A. Chanana, Amira’s
Chairman.
About Amira Nature Foods
Founded in 1915, Amira has evolved into a 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, Germany,
the United Kingdom, and the United States.
Cautionary Note on Forward-Looking Statements
This release contains forward-looking statements within the
meaning of the U.S. federal securities laws. These forward-looking
statements generally can be identified by phrases that we or our
members of management use such as “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 global rice 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 perform our agreements
with customers; our ability to recognize revenue from our contracts
as planned; 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 considerations 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20181227005153/en/
Miriam NasrallaThe Amira
Group+97144357303miriam.nasralla@theamiragroup.com
Amira Nature Foods (NYSE:ANFI)
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