Adani Wilmar looks to acquire assets

Adani Wilmar looks to acquire assets
PTI
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First Published: Fri, Mar 20 2009. 05 20 PM IST
Updated: Fri, Mar 20 2009. 05 20 PM IST
Kolkata: Adani Wilmar Ltd, the country’s largest edible oil manufacturer, is looking at acquisition of assets to increase its solvent extraction (crushing) capacity, a company official said.
Adani Wilmar CEO Atul Chaturvedi said that the company’s present crushing capacity was 6,000 tonnes per day (TPD). “We are looking to acquire assets in this area,” he said.
Besides inorganic growth, the company is also looking at organic growth by doubling refining capacities at its port-based plant in Haldia in West Bengal. It is planning to invest about Rs600 crore over the next one year in the state.
Adani Wilmar’s present refining capacity is 5,000 TPD and it has a present market share of 19%.
Chaturvedi said that the company was targeting 2.5 million-tonnes-per-annum production capacity by 2012. Adani Wilmar, which has a turnover of Rs6,000 crore, is eyeing a turnover of Rs12,000 crore by 2012.
The company manufactures edible oils like mustard, soyabean, sunflower, cottonseed, groundnut and coconut.
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First Published: Fri, Mar 20 2009. 05 20 PM IST