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| Sunday, 1 June 2003 |
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Business |  |
| News Business Features Editorial
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Godrej and Boyce mulls manufacturing plant in Sri Lanka Godrej and Boyce Manufacturing Company Ltd, one of the largest privately-owned industrial corporations in India, entered the Sri Lankan market last week with the opening of a representative office in Colombo. The multi-sectoral giant, whose combined group turnover amounted to US$ 790 million in 2002/03, plans to distribute a range of appliances, security equipment, home and office furniture, conferencing equipment, storage solutions and material handling equipment in the island, Godrej and Boyce Executive Director and President P.D. Lam told a media conference in Colombo. "Seven divisions of our group would enter the Sri Lankan market, seeking to become key players in three market segments - Home, Office and Warehousing. We plan to introduce over 50 products in various categories. We are looking forward to this venture in the island, which is a sophisticated market serviced by many reputed international companies and brands," he said. Home solutions would include home furniture, appliances and home security solutions. Office solutions comprise burglar and fire-resistant safes, vault equipment, office furniture and conferencing solutions. Warehousing solutions include shelving, racking, fork lifts and hand pallet trucks. These products conform to ISO 9000 and 14000 standards. The company, which is starting with a representative office, plans to develop it into a fully-fledged branch within eight months. "Depending on how the market expands and develops, we would consider establishing a manufacturing plant here. The Sri Lankan market may not be large enough to warrant this, but we might be able to cater to other South Asian markets too," Lam said. Godrej and Boyce started over a century ago as a manufacturer of security equipment. From there it went on to make soap out of vegetable oils and has now diversified to a variety of products. The company's products are sold in many other countries. |
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