Bengaluru-based Bharat Fritz Werner (BFW), a manufacturer of machine tools, is planning to expand its business through both organic and inorganic routes for a capital expenditure of Rs 350 crore over the next five years. ?We are actively looking at acquisition of small and medium sized machine tool companies in Europe. We have shortlisted some companies in Germany, Italy and Spain, and are in advanced talks with them,? said S N Mishra, Vice Chairman, BFW. Though the company is yet to decide on the exact amount of investment for acquiring companies, it has set apart Rs 150-160 crore for the purpose, he said, adding, ?The machine tool industry is poised for an exponential growth and BFW wants to be one of the key drivers of this growth.?