Aditya Birla Group targets $65 billion revenue by 2015 | business | Hindustan Times
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Aditya Birla Group targets $65 billion revenue by 2015

business Updated: Apr 19, 2011 00:35 IST
HT Correspondent

Acquisition seems to be the defining way for the growth of Aditya Birla Group. With two acquisitions (one domestic and one international) in just two working days and many more likely to come, the group plans to more than double its revenue to $65 billion by 2015.

Barely two days after announcing the acquisition of Chloro Chemicals Division of Kanoria Chemicals for Rs830 crore, Aditya Birla Group, having a total market capitalisation of Rs125,240 crore, on Monday announced the acquisition of a Swedish speciality pulp and bio-refinery—Domsjo Fabriker for a consideration of $340 million (Rs1,500 crore).

“We will grow through acquisitions and will be driven by what capabilities these acquisitions can give us,” Aditya Birla Group chairman Kumar Mangalam Birla said.

The Domsjo Fabriker buy has been done through two of the group’s global companies—Thai Rayon Public Company (Thailand) and Indo Bharat Rayon (Indonesia). The group has already taken over the management control from the Swedish consortium. “This acquisition is in line with our strategy to have raw material — in this case specialty pulp — for our internal consumption. What we are doing across our critical businesses is to gain control over raw material,” said Birla.

Making its fourth buy in the pulp and fibre business, the company wants to strengthen its global position while it already has a market share of 21% in viscose staples fibre (VSF).

“Its high quality pulp will enable us enhance the supply of top quality premium VSF to our customers,” said Birla. “This is one of our core businesses and our aspiration is to significantly ramp up our global market by the turn of the decad,” Birla added.