Godrej & Boyce weighs Sweden, Spain buys

Godrej & Boyce Manufacturing Co is eyeing acquisitions in Sweden and Spain and is also planning offices in China and the US by the year-end.

"We have recently opened offices in Dubai. We want our company to feature in the global top 10 in appliances within five years. At present, our company ranks 36th in the world," said Phiroze D Lam, executive director and president.

The company is also planning a new plant at Pune, alongside its existing facility, at an investment of Rs 100 crore. Currently, the Pune unit is capable of manufacturing 3.5 lakh pieces annually. The new plant would have a capacity of producing 4-5 lakh frost-free refrigerators.

Turnover for the appliances business for 2005-06 stood at Rs 750 crore. The company is targeting a turnover of more than Rs 1,000 crore by the end of this year.

"Exports this year have already touched Rs 300 crore and the target is to earn 20 per cent of our turnover from our export business," added Lam.