Sanitaryware and bath accessories manufacturer Parryware Roca Pvt Ltd plans to invest Rs 170 crore in the next 2-3 years to expand its production and enhance its marketing and distribution channels. The Chennai-based company is also eyeing ino rganic growth and would spend an additional amount on acquisitions.
"We plan to invest Rs 50 core in expanding our existing manufacturing facilities in the next 2-3 years. We will also invest about Rs 40 core every year for the next three years on marketing," said the Managing Director of Parryware Roca Mr K E Ranganatha n.
"We are also looking to acquire companies engaged in our line of business, on which we will invest additional money," he said. However, Mr Ranganathan declined to comment on the size or time of acquisition. The company has four factories for manufacturin g sanitaryware products and another one for taps.
The brown-field expansions would take the current capacity of 40 lakh pieces per annum to 60 lakh pieces per annum by 2011. Upbeat on the real estate scenario and the bathroom renovation market in the country, Mr Ranganathan said the company plans to ope n more showrooms for its products.
"The market for sanitaryware and bath accessories is growing at the rate of 15 per cent every year. We plan to take the number of showrooms to 55 by next month from the current 41," he said. The number of Parryware Roca Customer Care Centres, which cater to the renovation market, would also be taken to 30 from the current 20 in next 1-2 years.
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