Caparo eyes China, looks for more acquisitions globally
China is on the radar of NRI industrialist Lord Swraj Paul led Caparo Group, which is willing to go to any extent to invest in India as the opportunities open up.
By PTI |
BEIJING: China is on the radar of NRI industrialist Lord Swraj Paul led Caparo Group, which is willing to "go to any extent" to invest in India as the opportunities open up.
"China is very much on our agenda. If an opportunity comes, our people would love to do so (make investment) in the automobile component sector," Chairman of the UK-based $1.5 billion Caparo Group Lord Paul said in an interview here.
Caparo, predominantly a steel products and engineering giant, already has a joint venture with a Chinese company and buys and sells industrial products in China. The Group also has an office in Shanghai.
"We certainly see more potential in China", though the Group has no specific plans as of now, the London-based steel tycoon said. On India-specific investment plans, he said the company had built 15 new plants in the last three years and 16 more under construction were expected to be operational by late 2009.
"But, we are still looking for more," said Paul, adding, "if have the customers, we will go to any extent (to invest), mostly in the automobile components".
He said as long as opportunities keep coming up in the automobile industry, "we will specialise on that".
Asked if the diversified Caparo was open to widen the scope of investment to other areas, Lord Paul said, "We won't close our eyes to any other opportunity. But, certainly, automobile still in our view has more expansion possibilities. We will stick to that".
Queried if his group, which made more than two dozen acquisitions in 2006 alone, was scouting for more, Paul said "we are constantly looking in Britain. We are always looking in the US. If there is an opportunity which fits in".
He said Caparo had only last week acquired a plant in Detroit in the US which makes automobile components.
"It fitted into what we do in Britain and what we do in India".
In India also, Paul said, the group was open to acquiring more companies.
"So far, in India we have still stuck to the automobile sector. But in acquisition, if we get a reasonable size acquisition, then it does not matter what it does as long as it is in the manufacturing sector. We know the manufacturing sector. We think we are good at it. We think we are the best at it."
Paul, however, added that it was far more difficult to acquire in India where the "(acquisition) culture has not come yet".
Asked if Caparo which operates from 50 sites in Europe, North America and Asia, has set any specific turnover target five years down the line, he said "we are a company which genuinely believes that we must move on. You cannot remain still. Under that premise, we just carry on. We react to opportunities".
Caparo Group's business interests cover not only manufacture of steel, automotive and engineering products but also materials testing services, hotels, film distribution and private equity investment.
"China is very much on our agenda. If an opportunity comes, our people would love to do so (make investment) in the automobile component sector," Chairman of the UK-based $1.5 billion Caparo Group Lord Paul said in an interview here.
Caparo, predominantly a steel products and engineering giant, already has a joint venture with a Chinese company and buys and sells industrial products in China. The Group also has an office in Shanghai.
"We certainly see more potential in China", though the Group has no specific plans as of now, the London-based steel tycoon said. On India-specific investment plans, he said the company had built 15 new plants in the last three years and 16 more under construction were expected to be operational by late 2009.
"But, we are still looking for more," said Paul, adding, "if have the customers, we will go to any extent (to invest), mostly in the automobile components".
He said as long as opportunities keep coming up in the automobile industry, "we will specialise on that".
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Asked if the diversified Caparo was open to widen the scope of investment to other areas, Lord Paul said, "We won't close our eyes to any other opportunity. But, certainly, automobile still in our view has more expansion possibilities. We will stick to that".
Queried if his group, which made more than two dozen acquisitions in 2006 alone, was scouting for more, Paul said "we are constantly looking in Britain. We are always looking in the US. If there is an opportunity which fits in".
He said Caparo had only last week acquired a plant in Detroit in the US which makes automobile components.
"It fitted into what we do in Britain and what we do in India".
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In India also, Paul said, the group was open to acquiring more companies.
"So far, in India we have still stuck to the automobile sector. But in acquisition, if we get a reasonable size acquisition, then it does not matter what it does as long as it is in the manufacturing sector. We know the manufacturing sector. We think we are good at it. We think we are the best at it."
ADVERTISEMENT
Paul, however, added that it was far more difficult to acquire in India where the "(acquisition) culture has not come yet".
Asked if Caparo which operates from 50 sites in Europe, North America and Asia, has set any specific turnover target five years down the line, he said "we are a company which genuinely believes that we must move on. You cannot remain still. Under that premise, we just carry on. We react to opportunities".
Caparo Group's business interests cover not only manufacture of steel, automotive and engineering products but also materials testing services, hotels, film distribution and private equity investment.
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