Kolkata, Sept 11 (UNI) Godrej and Boyce Mfg. Co. Ltd. has earmarked around Rs 450 crore investment by 2007 to fund manufacturing tie ups and acquisitions in the US and the UK.
The company is scouting for locations in West Bengal and Chennai to set up manufacturing facilities at a cost of Rs 42 crore to serve the eastern and southern markets, chief operating officer Anil S.
"We have initiated talks with two companies in US and UK for manufacturing tie ups. We are in look out for brand and plant acquisitions in both the countries by the end of the current fiscal," Mathur said.
The manufacturing tie-ups would cost the company about Rs 80 crore each while the acquisitions would cost around Rs 100-150 crore per unit, he said.
Godrej presently has export contracts worth 3 million dollars, which is expected to go up to 5 million dollars next year.
After starting commercial production in the Guwahati plant with Rs 21 crore investment, Godrej is looking for locations in West Bengal and Chennai for its third and fourth plant to be set up with equal investments. The company's first plant was in Mumbai.
The company today unveiled 'Godrej Interio', the complete furniture solution for homes, offices and special projects.
The company with Rs 600 crore turnover last year is targetting Rs 800 crore this year and Rs 1500 crore by 2010.
It is targetting overall growth of 33 per cent through focus on niche segments like stadium furniture, health and hospitality furniture and corporate showrooms.
UNI TJP SJC DB1540