The Hindu Business Line : Capmark chalks out plans to expand India operations

CAPMARK Overseas Services, an arm of General Motors Holding Company (GMAC) and General Motors Acceptance (GMAC), has drawn up expansion plans for India operations based out of Hyderabad.

A team from General Motors Holdings Company, part of one of the largest automotive manufacturer in the world and a diversified group, visited Hyderabad to firm up plans for its expansion.

The Co-Managing Director of GMAC, Mr Larry Klingman, the Executive Vice-President, Mr Mike Lipson, the Senior Vice-President and Managing Director of European operations, Ms Karen Bellezza, and the Head of Indian Operations, Ms Barbara Miguez, were here to take stock of the operations that would see the company expanding facility shortly.

Capmark Overseas started operations in Hyderabad in 2002 with a 40-member team and has since grown to about 70 people.

Its parent Bovis Lend Lease is one of the world's leading companies in the project management and construction services industry whose Indian operations are based in Chennai.

The company's prime work area is in the insurance and mortgage claim processing, and it was acquired by General Motors Holdings Company in 2003.

While the GM team did not disclose overall plans for expansion, they intimated to the Andhra Pradesh Chief Minister, Dr Y.S. Rajashekhara Reddy, about its plans for expansion here.

According to Government sources, the company has hinted at expanding its operations and ramping up headcount significantly.

Mr Lipson, who along with his team is visiting India facilities, sought Government support for their expansion plans.

Once the process is over, the company sees a quantum jump in employment.