GBMCL eyes Sweden, Spain for acquisitions
Godrej & Boyce Manufacturing Company Limited (GBMCL) is eyeing acquisitions in Sweden and Spain for its appliances division. GBMCL has earmarked nearly Rs 700 ($150 million) crore for overseas acquisitions.
By TNN |
KOLKATA: Godrej & Boyce Manufacturing Company Limited (GBMCL) is eyeing acquisitions in Sweden and Spain for its appliances division. GBMCL has earmarked nearly Rs 700 ($150 million) crore for overseas acquisitions.
Talking to newspersons here on Thursday, Mr Phiroze D Lam, executive director & president, GBMCL said, “We are on lookout for equipment manufacturing units in Sweden and Spain. Talks are on with a couple of companies in these two countries. We hope to clinch deals in the current fiscal.”
The company also has plans to increase its refrigerator capacity at its existing units at Mohali,Chandigarh and Shirval near Pune. It will add 4 lakh units of frost-free refrigerators at its Shiraval plant and another one lakh units of direct cool refrigerators at its Mohali plant.
“Our total investment for this capacity addition will be around Rs 100 crore. The expansion programme will kick off within a year’s time,” said Mr George Menezes, chief operating officer of GBMCL (appliance division).
The company has also lined up a slew of launches for its appliances division which is into the manufacturing of air-conditioners, DVDs, refrigerators, washing machines and microwave ovens.
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It on Thursday launched a new frost free refrigerator in the eastern region. Termed as EON frost-free refrigerator, it will cost between Rs 16,000 - Rs 26,000 depending upon the size of the refrigerator.“We have filed for two patents for our new range of refrigerators. We had worked extensively over the last 17 months for coming out with this new model. In the first six months, we aim to sell 1 lakh EON frost-free refrigerators,” said Mr Lam.
Added Mr Menezes, “A similar exercise for our direct cool refrigerators is currently on. We hope to come up with customer friendly products in the next few months.”
The company is targeting to achieve a Rs 1,000 crore turnover in the current fiscal. It is also hoping to achieve an export target of Rs 300 crore in 2006-07.
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