AVT Natural Products has received an approval to close down its step down subsidiary - Heilongjiang AVT Bio-Products, China as it is better placed to meet its entire marketing needs from the Indian operations. The board of directors at its meeting held on October 30, 2013 has approved for the same.
The company does not expect any significant impact on its financial performance consequent to this decision.
AVT Natural Products is engaged in manufacturing of food safe natural flavour and colour production. It is the largest exporter of Marigold oleoresins in the world.