The Hindu Business Line : Godfrey Phillips India may hive off overseas operations

CIGARETTE manufacturer, Godfrey Phillips India (GPI), said it may consider hiving off its newly created international operations into a separate company once its business activities in the overseas markets attained a critical mass.

GPI informed the Bombay Stock Exchange that the company was considering launching its own brands overseas. The company is expected to export its new brand `Force 10' to the Republic of Guinea next month.

As part of its restructure plans , GPI had recently realigned itself into two main divisions - domestic and international.

The company may either buy or establish manufacturing facilities abroad or enter into alliances with other parties.

``Once these activities obtain critical mass, in due course, the company may even consider hiving off its international operations into a separate company," the GPI communiqué said.

GPI has also informed the BSE that it did would not compete with Phillip Morris (one of the joint venture partners in GPI) as the markets it proposed to tap were different from those of the foreign partner.

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