Financial Daily from THE HINDU group of publications
Friday, Jun 17, 2005
Financial Daily from THE HINDU group of publications Friday, Jun 17, 2005 |
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Corporate
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Restructuring Kinetic Motor to restructure group Our Bureau
Bangalore , June 16 KINETIC Motor Company (KMC) plans to restructure its entire group in another couple of years and expects to post revenues of over Rs 1,000 crore in three years. The KMC Joint Managing Director, Ms Sulajja Firodia Motwani, said that KMC is expected to turnaround during this financial year as it expects good sales of its newly launched Italjet range of scooters. It expects to sell at least 50,000 units of the new range. During the next two years, sales are expected to cross the 2-lakh mark. Another group company, Kinetic Engineering Ltd, which also makes components including engines and gearboxes, is expected to break even next financial year. "Our plans have not been firmed up yet. But we expect to better our performance during the next few years," Ms Motwani said. The combined group turnover is around Rs 250 crore and in another three years, it is expected to climb to over Rs 1,000 crore. "We are looking for alliances in the US and may explore the possibility of roping in South Korean motorcycle maker, Hyosung, to see whether we can export these range of scooters," Ms Motwani said.
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