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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Indian BPO Interest: Kelani Tyre gets benifit???

Indian BPO Interest: Kelani Tyre gets benifit???

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MarketResearch

MarketResearch
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Indian BPO Interest
RPG Group India, the holder of the CEAT tyre brand will explore possibilities of starting a business process outsourcing (BPO) operation in Sri Lanka. RPG, a diversified company, is one of the biggest BPO operators in India, Randeep Narang, the Indian expatriate Managing Director and CEO of CEAT in Sri Lanka, told reporters here recently.
A delegation from Zensar, RPG’s subsidiary involved in BPO operations are expected in Colombo in this regard, said Narang.

CEAT in Sri Lanka is a joint venture between Kelani Tyres and RPG. RPG recently acquired the CEAT brand name from Pirelli for an undisclosed sum, paving the way for the opening up of the export of its tyres to the lucrative western markets.

The multi-billion rupee Sri Lankan operation which derives 2/3rds of its sales by catering to the local market and the balance, overseas, has been able to grow despite the recession by enhancing productivity and by moderate price hikes despite the prices of its chief raw material rubber going through the roof as it were in recent times. Narang further said that the recent electricity hike would mean that his company’s electricity bill would go up by 10% and cost of production by 5%.

The company also unveiled their new logo, appointing Sri Lanka cricket captain Kumar Sangakkara as its change ambassador.

Narang was bullish about his company’s prospects in Sri Lanka despite the high cost of living, The company is investing some Rs. 400-500 million to expand its operations in the country. He also alleged that garment companies such as Brandix and the Hirdaramani group, despite the loss of the GSP+ facility, have expansion plans in the cards. Narang said that CEAT Sri Lanka has no plans to list in the Colombo Stock Exchange.

(Sunday Leader)



Last edited by Quibit on Sun Jan 30, 2011 6:20 pm; edited 1 time in total (Reason for editing : format condensed)

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