Godrej & Boyce eyes unit in Sweden, Spain
Godrej & Boyce Manufacturing Company (GBMCL) is eyeing acquisitions in Sweden and Spain for its appliances division. GBMCL has earmarked nearly Rs 700 ($150m) crore for overseas acquisitions.
Talking to newspersons on Thursday, GBMCL executive director & president Phiroze D Lam said: “We are on lookout for equipment manufacturing units in Sweden and Spain. Talks are on with a couple of companies in these 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 refigerators 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,” said George Menezes, chief operating officer, 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. The company is targeting to acheive a
Rs 1,000 crore turnover in the current fiscal.
Source:
