Mumbai, 7 Sep 2006
Videocon-Electrolux will be setting up a greenfield facility in Uttaranchal to manufacture air-conditioners with an investment of Rs 150 crore. This was announced by Anirudh Dhoot, managing director of Videocon-Electrolux.
“The plant is expected to be ready by April next year so that the air-conditioners would be ready to hit the market in time for the summer,” Dhoot said.
He added that the capacity would then be expanded to include refrigerators and washing machines. The plant would be put up by Videocon Industries.
The company has just introduced a new range of washing machines in line with the upcoming festival season which have special holeless drums that help in saving water up to 40%. “At present we have 3.5% market share but after rolling out this range, we expect it to go up to 8%,” Dhoot said.
He added that the company expected a sales turnover of Rs 600 crore by December 2006, and was aiming for a turnover of Rs 750 crore by December 2007.
News Source: http://www.business-standard.com