Vesuvius plans acquisition, expansion

Vesuvius India, a leader in the refractory business, is considering two companies for acquisition. Gian Carlo Cozzani, global CEO of the Vesuvius group, said the company was about to start the due diligence exercise for both the acquisition targets. The acquisitions would be completed within the third quarter of 2005, subject to fulflment of Vesuvius's criteria.

Besides growing through acquisitions, Vesuvius has decided to expand its Kolkata factory in two phases. The first phase, which would be completed in two years, would cost Rs 40 crore (£5 million). The second phase, to be commissioned a year later, would cost a little more than that, according to Biswadip Gupta, managing director of Vesuvius India.

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