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Kolkata , Dec. 16

PHILIPS Carbon Black Ltd (PCBL) has signed an MoU with a global tyre major for meeting the latter's carbon black needs on a committed sales basis, PCBL Chairman, Mr Sanjiv Goenka, has said.

Addressing a press conference, he said the company which was hitherto importing from PCBL would now buy 25,000 tonnes of carbon black annually. As per a confidentiality clause, he was not in a position to name the company.

PCBL, which is the largest exporter of carbon black in Asia, is seeing a renewed surge for its products with the closure of manufacturing facilities in the West. Mr Goenka indicated that the company was in talks with another overseas tyre major for sourcing that company's requirements.

He said PCBL was planning a Rs 180-crore capital expenditure for augmenting capacity at its Baroda unit in Gujarat and the Durgapur unit in West Bengal.

While Rs 100 crore would be spent on expanding the capacity of the Baroda plant from 18,000 tonnes to 88,000 tonnes, along with the setting up of a 12-MW power plant, at Durgapur, a 20-MW power plant would be set up with a capacity expansion of 25,000 tonnes (existing capacity 1.2 lakh tonnes). On the company's results for the year ended September 2003, Mr Goenka said while production increased by 11 per cent to touch 1.5 lakh tonnes, sales increased by 8 per cent to touch Rs 543.13 crore. Its net profit stood at Rs 5.4 crore for the previous year. The PCBL board, which met here on Tuesday, recommended a 25 per cent dividend in place of 15 per cent.

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