CHENNAI: More Murugappa Group companies are set to establish production units in Uttaranchal. M. A. Alagappan, Chairman, and A. Vellayan, Vice-Chairman, of the Murugappa Corporate Board (MCB) gave a broad hint to this effect during their informal chat with select presspersons here on Tuesday.

Meeting the press for the first time since their ascension to top slots at MCB, they indicated that at least a couple of Tube Investments (TI) companies were looking at Uttaranchal seriously. They said that TI companies could consider making tubes and chain in Uttaranchal. Carborandum Universal Ltd. (CUMI), a group company had already announced its decision to go to Uttaranchal, they pointed out.

Both asserted that the group would strive to scale No. 1 or No. 2 slots in chosen areas of businesses. "In these areas, we wish we are able to exert influence," they pointed out. "We want to be the one leading the race," Mr. Alagappan said.

The last few years — when non-family members were heading the MCB — had taught the family members "to look at a larger way to expand," Mr. Alagappan said. Endorsing this view, Mr. Vellayan said, "We are on track now. Mr. Pai (past Executive Chairman of MCB) taught us various nuances."

They said that the group (the owners) was convinced that aggressive growth and higher levels of profit could go hand in hand. In this context, Mr. Alagappan said the group was looking at doubling the turnover and bottom line in three years.

Brand building

Mr. Vellayan said the process of building a group brand was on. There were many larger individual brands within the group, he said.

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