Godrej & Boyce to spend Rs 100 cr for new unit Press Trust of India / New Delhi September 05, 2006 Godrej & Boyce plans to invest Rs 100 crore for setting up a refrigerator manufacturing facility near Pune. The company also expects a turnover of more than Rs 1,000 crore in the current fiscal.
“We would invest Rs 80-100 crore to set up a new frost-free refrigerator manufacturing facility which would double our existing capacity for the product,” George Menezes, COO of Godrej & Boyce, said here today.
The company has a present capacity of 3.5 lakh frost-free refrigerators per annum and the new facility, to be operational by late-2007, would take up its annual capacity to about 7 lakh units, he said.
Godrej & Boyce, which launched its new range of frost-free refrigerators today, controls 12% of the domestic market share and plans to double it within six months to 25% with the launch of the new range.
“The frost-free market is expected to almost double by 2009 and would occupy a dominant position in the refrigerator market. This upswing has motivated us to set up the new unit which would help us cater to the increased demand for such a product,” Menezes said.
From The Business Standard