Saroj Poddar group unifies 21 companies under ‘Advent’ brand; plans Rs10,000-cr spend
24 Mar 2011
The Saroj Poddar-led group of companies, including Zuari Industries, Texmaco and Paradep Phosphates, have announced a new unified corporate entity, Adventz Industries India Ltd.
Brand 'Adventz' will comprise all 21 of the group's companies. It will invest $2 billion (Rs10,000 crore) in the next four years ''to expand our businesses across the 21 companies", Suresh Krishnan, managing director of Adventz, told newspersons in New Delhi.
He said the group was targeting a turnover of $5 billion in the next five years.
"We are in the process of finalising the marketing and promotional plan for the new identity," Krishnan said.
"Currently, the group's turnover is around $2.5 billion, which is likely to go up to $3 billion in the next fiscal. Over a period of five years, we are looking at a figure of $5 billion," he said.
Most of the new investment will be for setting up a new fertiliser plant in Karnataka and for acquiring assets in the fertiliser business.
