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K Baburajan
Bangalore, Nov 5: The BPL group has increased its stake in the US-based Kleer Industries Inc to 95 % from the earlier 70 per cent. The balance 5 per cent will remain with employees of Kleer.
This move is a result of the enormous demand for digital colour monitors in the American market, where the BPL arm mainly operates. The Nambiars' 95 per cent stake in Kleer Industries is being distributed among major BPL group companies.
Last fiscal BPL Ltd had picked up around 41 per cent equity stake in Kleer Industries from two of its private investment companies enhancing its stake up to 70 per cent with an investment of around $2.5 million. Earlier the company had held 2.9 crore shares of $0.007 each in the US company at an investment of about Rs 0.64 crore.
Top company officials said BPL Ltd's export is likely to register a 78 per cent growth to touch Rs 140 crore this fiscal. It expects a turnover of Rs 400 crore from exports within three years. The main export destinations will be south-east Asia, Europe andthe US.
Although the group has been marketing several electronic appliances in the country, it has identified colour monitors and televisions, electronic components, alkaline batteries and software as major items for exports. The group's software export via its arm BPL Telecom Ltd during fiscal 1997-98 is likely to be Rs 40 crore.
It plans to augment export of digital colour monitors to one million in the next three years. At present, the company exports 25,000 monitors a month to the US.
BPL's international division has also started exporting colour picture tubes and speakers to the south-east Asian markets. BPL has also signed a pact with Aiwa of Japan to supply 1,00,000 audio speakers. The realisation from this major order is around $1.1 million per annum.
An investment of Rs 250 crore for setting up a colour monitor picture tube facility at its Noida unit is also on the cards. At present, the Noida factory houses a colour picture tube production facility for colour televisions.
BPL will investthis fund to put a second line and may put on hold the earlier plans to augment the colour picture tube capacity for CTVs at the same unit.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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