Mecca Cola terminates contract with HRC Group
Thursday, 13 November 2008
FE Report
The United Arab Emirates (UAE)-based Mecca Cola World FZCO has terminated contract with local HRC Group to market its soft drink in Bangladesh, Sri Lanka and Myanmar.
It made the announcement in a press release dated November 10.
"HRC Group has totally failed in the execution of its contractual obligations, and was not able to comply with the clauses of said contract, despite several promises made by the chairman of the Group to remedy the situation," according to the press release.
Confirming the development, HRC Manager Rezwanur Rahman said the Mecca Cola did not perform its responsibility to supply standard machinery for the proposed plan as per contract.
They sent machinery that according to a pre-shipment inspection (PSI) certificate was not up to the mark, he said.
"As a responsible company, HRC did not accept these out of scope machinery," he said.
Mecca Cola Group said it showed an exemplary patience in this deal after it was signed in Paris on October 9, 2003.
Five years of patience and acceptance of the pretexts of HRC demonstrate widely the bad practice of the Group, said the Mecca Cola.
According to the contract signed with Mecca Cola World Group, HRC owes huge arrears, added the company.
The United Arab Emirates (UAE)-based Mecca Cola World FZCO has terminated contract with local HRC Group to market its soft drink in Bangladesh, Sri Lanka and Myanmar.
It made the announcement in a press release dated November 10.
"HRC Group has totally failed in the execution of its contractual obligations, and was not able to comply with the clauses of said contract, despite several promises made by the chairman of the Group to remedy the situation," according to the press release.
Confirming the development, HRC Manager Rezwanur Rahman said the Mecca Cola did not perform its responsibility to supply standard machinery for the proposed plan as per contract.
They sent machinery that according to a pre-shipment inspection (PSI) certificate was not up to the mark, he said.
"As a responsible company, HRC did not accept these out of scope machinery," he said.
Mecca Cola Group said it showed an exemplary patience in this deal after it was signed in Paris on October 9, 2003.
Five years of patience and acceptance of the pretexts of HRC demonstrate widely the bad practice of the Group, said the Mecca Cola.
According to the contract signed with Mecca Cola World Group, HRC owes huge arrears, added the company.