The Hindu Business Line : Godrej & Boyce looking for partners

Kolkata, Sept. 20 Godrej & Boyce Manufacturing Company Ltd is scouting for international partners to bring in new technology for improving production across all its 14 divisions.

“We are looking at joint ventures, both nationally and internationally. While the international tie-ups will help bring in new technology, domestic partnerships will help in the company’s inorganic growth,” Mr P.D. Lam, President and Executive Director of Godrej & Boyce, told Business Line.

“We may also look at acquisitions when the right opportunity comes and are in talks with several players. We do not have any strict budget for our acquisitions, but these will be funded mostly through internal accruals,” Mr Lam added. He, however, declined to give further details, including the name of proposed partners and when a deal is likely to be sealed.

The company aims at a turnover of Rs 4,500 crore during 2007-08, a growth of 30 per cent over last year. Godrej & Boyce has planned a capital expenditure of nearly Rs 300 crore during the current fiscal, bulk of which would go towards technology upgradation.

Godrej Appliances, a division of Godrej & Boyce, launched a new variant of Godrej EON Washing Machine with DAT Technology on Thursday. Depending on the capacity, the washing machines have been priced in the range between Rs 13,000 (6.2 kg) and Rs 14,000 (6.5 kg). The appliances division expects a 40 per cent growth in revenue at Rs 1,400 crore during the current fiscal from Rs 1,000 crore last year.

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