Godrej, Bosch tie up for India
Godrej & Boyce, the holding company of the Godrej group, is learnt to have entered into a collaboration with the German firm BSH Bosch and Siemens Home Appliances group for product development. Rachit Vats reports.business Updated: Dec 22, 2010 21:18 IST
Godrej & Boyce, the holding company of the Godrej group, is learnt to have entered into a collaboration with the German firm BSH Bosch and Siemens Home Appliances group for product development.
Both players operate in the home appliances segment and sources claim the firms have already signed a letter of intent and are in advanced stages of negotiations.
While a source close to the development confirmed this, BSH Bosch and Siemens denied any such plans. An official at Godrej & Boyce decline to offer any comment.
"At the moment we do not have any comment to offer," said Kamal Nandi, vice president, sales & marketing (appliances division), Godrej & Boyce.
As of now the collaboration is restricted to top-end refrigerators. It may be later extended to the entire range of home appliances that the company has, sources said.
Insiders in the know of the deal suggest that the collaboration will be dual-purpose, helping the German firm make inroads in the country, and at the same time enabling Godrej make better products.
"There is no plan," said Marc Hantscher, Chief Executive Officer (CEO), BSH Bosch and Siemens Home Appliances Group to Hindustan Times in an e-mail response.
Details regarding retailing of these products are not known.