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Godrej & Boyce Manufacturing Company Limited, one of India's largest privately-held industrial corporations yesterday announced its entry into the Sri Lankan market and the opening of a representative office in Colombo.

The multi-sectorial giant whose combined group turnover in fiscal year 2001/02 topped US $ 790 million (more than Rs 76 Billion at current rates) plans to distribute and market an extensive range of appliances, security equipment, home and office furniture, conferencing equipment, storage solutions and material handling equipment in Sri Lanka.

"Seven Divisions of Godrej & Boyce specialising in these areas would enter the Sri Lankan market simultaneously, seeking to become key players in servicing three large market segments - Home, Office and Warehousing," the company's Executive Director and President, P D Lam told at a news conference at Colombo's World Trade Centre.

"We are looking forward to this venture into Sri Lanka, which is a sophisticated market serviced by many reputed international companies and brands," he said. "As a company which is a household name across India, we look forward to the challenge of marketing a very wide range of tried and tested products with an established value-for-money proposition."

Godrej & Boyce already has extensive international exposure through its presence in the Middle East and several other overseas markets.

With this experience and expertise the company would focus on developing its business in Sri Lanka.

"Godrej & Boyce has plans to introduce more than 50 products in various categories to the Sri Lankan market, in keeping with its corporate mission of "Enriching quality of life everyday, everywhere," Lam said.

Whilst the initial product offering would cater to the three segments viz. Home, Office and Warehousing, specific solutions for each segment have been designed by the Godrej team to provide prospective customers in Sri Lanka with world class products at affordable prices.

Home solutions would include products such as Home furniture, Appliances and Home security solutions. Brands such as 'i-Space' for kids' furniture, 'Godrej Pentacool' range of refrigerators, 'Treasure Chest' electronic safe and the 'ULTRA' range of computer aided Dimple Key Locks would be launched in the market to cater to the home segment. Office solutions are designed for specific requirements of the market such as the Banking and Institution segment.

Under this offering, the Godrej & Boyce Group is introducing products ranging from Burglar and Fire Resistant Safes, Vault Equipment, end-to-end Office Furniture Solutions encompassing Modular Systems Furniture, Executive Desks and Seating and Conferencing Solutions which would include manual typewriters and overhead projectors.

Warehousing solutions encompassing industrial and commercial storage solutions include an extensive array of product offerings such as shelving, racking, mezzanines, drive-in systems, cantilever systems, mobile solutions and automated warehousing solutions in addition to fork lifts and hand pallet trucks.

"Our products and expertise span a wide cross section of domestic and commercial activity," Lam said.

"In India, Godrej touches the lives of millions of people every day. To them, it is a symbol of enduring ideals in a changing world."

Citing examples, he said that Godrej is the leader in the organised sector for office furniture in India, with an annual turnover exceeding Rs 5 Billion. The company is also a predominant player in the locks segment and in security equipment it enjoys a dominant 75 percent market share, with three out of four banks in India using its products.

The Godrej name is also not completely new to Sri Lanka, Lam said. Several local banks today use the company's security equipment.

The company's locks are also being used by one of the large local Original Equipment Manufacturers for their furniture and security products. Godrej Storage Solutions have also successfully executed major projects in Sri Lanka for the logistics, tea, FMCG and garment industry during the last year.

Stressing that internationally-certified quality is the hallmark of the company's management and production processes; he said all Godrej & Boyce businesses entering the Sri Lankan market are certified as conforming to ISO 9000 and ISO 14000 standards.

Founded in 1897 by Ardeshir Godrej, the company has been controlled by the Godrej family since its inception. About one-fourth of the company's share capital is held by the Pirojsha Godrej Foundation, a public charitable trust. Godrej & Boyce employs about 9,000 people, and sells its products through an all-India network of 33 company-owned showrooms, 1,000 wholesale dealers and more than 5,000 retail outlets.

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Produced by Lake House
Copyright 2001 The Associated Newspapers of Ceylon Ltd.
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