India's Godrej Appliance, a division of Godrej & Boyce Mfg Co Ltd, has planned a capital expenditure this year to reposition its brand through technological upgrades.
Phiroz D Lam, executive director & president, said the company seeks to reposition its brand as it has to address to the needs of a larger section of consumers. This group demands more efficiency in every consumer items, which can only be met by using improved technology, he said.
He said that the company's appliance division is aiming at a turnover of 30% more than its last year's turnover.
The company is also looking for domestic as well as overseas acquisitions, which may take shape of joint venture projects or make Godrej a major stakeholder in other companies. Overseas acquisitions would be made with an objective of getting better technology, Lam said. He said acquisitions would mostly be funded from internal resources.