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CUMI’s approach to propel growth
27th Aug. 2009
CHENNAI: Carborundum Universal Ltd. (CUMI), a Murugappa Group company, is working on an innovation-led approach to propel the company into the higher growth orbit.
Indicating this in an interaction with The Hindu, K. Srinivasan, Managing Director, said CUMI had already constituted a core team which had been doing a lot of work on the innovation front for the past three years. The team was currently assessing innovation-induced opportunities. “Our core strength is in discrete processing of minerals and metals,” he said. Ideally, CUMI would like to get into areas adjacent to its core competency if they offered mega growth opportunities, he said.
Besides the innovation-led approach, CUMI was keeping the organic and inorganic routes to growth pretty open. “We have head room to grow organically in all markets and businesses. Also, we will continuously seek and look for opportunities for inorganic growth,” Mr. Srinivasan said.
CUMI, he said, had always focussed of ‘RIC’ (Russia, India and China) nations. It had added South Africa to the list. He said CUMI would look for manufacturing access only in low-cost economies though it would not be averse to having customer-facing organisations in developed economies.
Given this, CUMI is now moving towards consolidation of its back office functions by moving towards shared service model. The objective, he said, was to ensure better governance, greater comfort and effective control.
CUMI was also planning to go in for corporate governance rating. “We are looking to have a foolproof system of governance across the organisation”. An exercise in the regard was already on, he said.
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