Lotte buys 21.52 acres near Chennai

Lotte India Corporation, formerly Parrys Confectionery, has acquired 21.52 acres in the outskirts of Chennai.

According to a release issued by Lotte to the BSE today, the company plans to achieve its growth and profitability targets for the current year through various cost optimisation measures, brand building and expansion of distribution network.

"K V Ramachandra has joined the company as managing director with effect from October 23," the release added.