— PHOTO: SHANKER CHAKRAVARTY

HIGH-END PRODUCTS: Jose Miguel Roca (left), CEO, Roca Corporacion Empresarial-Worldwide, with A. Vellayan, Vice-Chairman, Murugappa Group, at the launch of Parryware Roca range of designer bathroom products in New Delhi on Tuesday.

NEW DELHI: Parryware Roca, a joint venture of the Murugappa Group and global leader in sanitaryware Roca, on Tuesday announced its ambitious expansion programme to invest about euro 130 million (Rs. 750 crore) in two years for acquisitions and expansion in India with an eye on a ten per cent market share of the Rs. 100 crore high-end market for Roca products.

"Every year we will invest about euro 12-15 million for both marketing and scaling up of manufacturing activities," Parryware Roca Chairman, A. Vellayan, told reporters here on Tuesday on the occasion of the launch of the first range of Parryware Roca products in the premium segment of the bathroom and sanitaryware solutions priced at Rs. 1.50 lakh onwards.

He said that considering the history of the parent companies of the joint venture, acquisitions in the Indian market were very much on the agenda. However, initially high-end Roca products would be manufactured at the exiting facilities.

"For the next two years, our acquisition budget for the Indian market is about euro 100 million. We are on the lookout for brands here," Domingo Colomo Prados, Roca Corporation Empresarial Senior Managing Director of Executive Board, said.

The joint venture was looking for both regional and national brands, which could add value to its portfolio, he added.

Managing Director, K. E. Ranganathan, told The Hindu that the 50:50 joint venture would set up 20 showrooms for Roca products in India this year, which would be scaled up to 30 next year.

"In the next one year, we expect to start manufacturing Roca products in India at our facilities in Alwar and Perundurai, which are currently being upgraded with technology from Roca," he said.

Printer friendly page  
Send this article to Friends by E-Mail