Components supplier Varroc Group recently organised its first Varroc Value Adder’s Meet where over 100 value partners participated.

Tarang Jain, managing director addressed the gathering and shared with them the Group’s plans for the coming years and also the recent restructuring carried out. He said Varroc is targeting sales of Rs 4,000 crore by 2010-11. Its sales turnover in 2006-07 was $300 million; turnover in the current fiscal 2007-08 is expected to be around $450 million.

While 50 percent of the sales will come through organic growth in the Indian two- and four-wheeler markets, export of components through International Purchasing Office, and direct export to European and American customers. Inorganic growth will be through acquisitive growth in Europe in the areas of forgings, plastic mouldings, and in electrical/electronics in China. Jain also highlighted Varroc’s priorities on quality, cost, and innovation and delivery front.

Madhusudan Sharma, associate vice-president (Material) shared the buying volumes for domestic manufacturing during the next four years and also Varroc’s plan to rationalise suppliers in a phased manner. Varroc expects its partners to gear up to meet global customer expectations on quality and competitiveness and has initiated the Q manager concept to support the value partners to improve product quality and reduce wastage.