Chennai, Sep 2 (UNI) Barry-Wehmiller International Resources (BWIR), a global supplier of packaging, corrugating and paper converting technology, today announced expansion of its Indian operations and added it was eyeing a turnover of 50 million US Dollar by 2012.
Talking to reporters here, BWIR President and Managing Partner Vasant Bennett said the present turnover of the company was about 12 million USD, a significant improvement from two million USD in 2002.
''We are eyeing a turnover of 50 million USD by 2012 and also ramp up the head count from the present 300 to 1000 during the same period,'' he added.
About expansion in India, he said the company, which has offices in Mumbai and Chennai, moved to a new location spread over three floors in a ten-storeyed building, a significant growth after its started its Indian operations in a two-bedroom apartment 14 years ago.
''The new building can accommodate 500 people. We will lease out one or two floors to accommodate 1000 people by 2012,''he added.
To a question, Mr Vasant said the company has been growing by 30 to 40 per cent over the last five years without infusing any external funds.
''The growth has been made only with internal accruals,'' he added.
UNI GV GM 1514