Godrej's appliances division to invest Rs 100 cr to hike capacity

Kolkata, Aug 03 (UNI) The appliances division of Godrej&Boyce Manufacturing Company Ltd would invest Rs 100 crore to hike capacity of its plant at Sheruwal near Pune by 0.5 million units in the current fiscal.

The appliances division is targetting 30 per cent growth in business to Rs 1000 crore in 2006-07 by repositioning its brand and focussing more on the fast growing segments like air conditioners, microwave ovens and DVDs, chief operating officer George Menezes told reporters. The company clocked Rs 750 crore turnover last year.

" We will manufacture the frost free refrigerators in the plant near Pune, " Menezes said adding the present capacity in the Sheruwal plant is around one million units.

The company had planned to spend five per cent of the turnover for brand repositioning and five per cent for research and development for ensuring higher growth in business, the executive said.

UNI TJP SJC AB 1722