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| Haier to start making AC, washing machines in India |
| Press Trust of India / New Delhi Apr 14, 2010, 17:57 IST |
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Chinese consumer durables player Haier today said it will start manufacturing air conditioners and washing machines in India as it looks to expand product basket and clock a turnover of about Rs 3,000 crore by 2012.
The company's Indian subsidiary, Haier India, is in the process of investing Rs 100 crore to set up a new line at its Pune facility to start producing air conditioners and washing machines by the year-end. It will also provide additional capacity to produce refrigerators at the plant.
"At present, our facility near Pune can make around four lakh units of refrigerators. After the second line, which will be operational by August, we will be able to manufacture around 4.75 lakh units by the end of this year," Haier Appliances India President Eric Briganza told reporters here.
He said in the initial phase the company plans to produce around 1.2 lakh units of washing machines and 1.4 lakh refrigerators. Currently, Haier assembles air conditioners and washing machines in the plant.
The company's expansion is part of its plan to push its overall sales in India and touch Rs 3,000 crore by 2012.
"We have registered a robust growth of 216 per cent in the first quarter of this year. So going by this growth, we can expect our revenue to jump to Rs 1,000 crore by the end of this year," he said.
For the next year, Haier is aiming 100 per cent growth.
"Our long term plan is that by 2011, we hope to achieve a growth of around 100 per cent, while by 2012 our target is to have a 50 per cent growth," he said.
The company clocked a revenue of Rs 350 crore in 2009, and said over the last few months it has been focusing on enhancing its distribution channels as well as on bringing out new product lines.
Haier today launched 25 new models across all the product categories, including refrigerators, LCD/LED TVs and air conditioners.
In the last few months, it has established network of around 4,500 dealers across the country, Briganza said, adding that the company further plans to increase its retail footprint across the country.
Haier currently has two exclusive flagship stores. It is planning to open 10 more stores by this month.
The company said it will step up its branding and marketing activities and has earmarked an investment of Rs 50 crore on it for this year.
On its marketing initiatives, Haier said it has lined a variety of communication activities this year, including a new TVC which will be aired from tomorrow.
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