Faber Eyes Rs 100 Crore Turnover By 2003

The Pune-based Faber Heatkraft Industries Ltd, manufacturer of kitchen hobs and chimneys, has adopted a two-pronged strategy to achieve a turnover of Rs 100 crore by the year 2003, up from the current Rs 31 crore.

The company, a joint venture between the $200 million Faber SpA of Italy and Heatkraft of Pune, has decided to diversify into the small appliances category.

Simultaneously, it has entered into a marketing tie-up with another Italian company Scavolini to offer complete branded kitchen solutions to the Indian consumer.

Prahlad Bhutada, managing director of Faber Heatkraft, said,