MRF which is a Chennai based tyre manufacturing company is looking to acquire plants overseas and rubber plantations in countries like Thailand, Cambodia and Vietnam to tackle rising raw material costs. The reports says, MRF stated that its new plant in Tamil Nadu, which has been set up at the investment of Rs 800 crore, is expected to start operations in January-February 2012. It is likely to help MRF generate 15 percent increase to its yearly sales.
MRF Limited Executive Vice President (Marketing) Koshy K Varghese said, ``we may look at acquiring plants outside (India). We have not come across anything as yet. If we do get we will acquire." He said the firm would preferably look at acquisitions abroad rather than taking the usual organic growth path. Vcommindia News
No comments:
Post a Comment