Tata Refractories Ltd (TRL), a Tata Iron and Steel arm, is keen to acquire refractory business in India and abroad. The company is aiming at becoming a global player in the coming years. "We are actively considering acquisition of refractory business in India and abroad", said CD Kamath, managing director, TRL. He indicated that TRL is now negotiating with a few companies for acquisition but refused to divulge any details.

Mr Kamath on Saturday announced that TRL has undertaken an ambitious growth plan at an investment of Rs 282 crore to remain competitive in the global market. He told reporters that the growth plan includes modernisation of equipments, expansion of dolomite and high alumina bricks, installation of captive power plant and diversification into advanced ceramic business. TRL has posted a net profit of Rs 16.55 crore from a sales turnover of Rs 319 crore in 2003-04.

However, the company is targeting to achieve a sales turnover of Rs 600 crore by 2007-08. Mr Kamath said that though the refractories market has remained sluggish for the last few years, it would be bullish in the coming years. He noted that with demand for steel and cement picking up, refractories market has witnessed some growth