The Hindu : Business : GKB Lenses partners Zeiss

Online edition of India's National Newspaper
Wednesday, Jan 12, 2005

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Business

GKB Lenses partners Zeiss

By Anil Sastry

PANAJI, JAN. 11. The Euro $2.1 billion worth German-based optical manufacturer Carl Zeiss entered into a joint venture with the Goa-based Rs. 250 crore GKB Hi-Tech Lenses here on Monday to set up Zeiss' first manufacturing facility in Asia. The joint venture would invest Rs. 60 crores during 2005.

Inaugurating the manufacturing facility at Mapusa near here, the Chief Minister, Manohar Parrikar, said, "Goa has the dual distinction of being the preferred tourist destination as well as manufacturing base. Basically, Goa offers best of both worlds and more and more global companies are realising it." The Power Minister, Digambar Kamat, was present.

Meanwhile, a Zeiss lab was also inaugurated with a capacity of 1,000 prescriptions daily, producing lenses with Zeiss exclusive laser mark on the lenses using the same technology as Carl Zeiss in Germany.

Mahendra K. Gupta, GKB's Chairman and Managing Director, told The Hindu that GKB was excited to partner Zeiss as combined advantages of both market leaders in their respective countries would give a boost to the joint venture.

According to Shobit Gupta, GKB Director, their market share of around 38 per cent in the branded sector was all set to reach 50 per cent within three years with the launch of the joint venture. Also, the annual turnover would touch Rs. 180 crores from the present Rs. 50 crores, he said. On the other hand, Zeiss views the joint venture as the hub for expanding its business in the Asia region, according to Michael Kaschke, Zeiss' board member.

GKB (Gopal Krishna Brothers) launched with just four hand-operated swindle machines in 1959 in Agra, has grown manifold to become a Rs. 250 crore company in 2005.

A 100 per cent export-oriented unit was set up in Goa in 1982, while Goa Optolab Pvt., Ltd., followed it.

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