| Videocon Electrolux will set up a greenfield facility in Uttaranchal to manufacture air-conditioners at an investment of Rs 150 crore.
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| Anirudh Dhoot, managing director, Videocon Industries-Electrolux, said the plant was expected to be ready by April 2007 so as to make available the product during the the summer.
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| He added the capacity would be upgraded later to include refrigerators and washing machines. The plant will come up under the Videocon Industries banner.
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| The company has launched a new range of washing machines in line with the upcoming festival season with special holeless drums to help save water up to 40 per cent.
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| “At present, we have 3.5 per cent market share, but after rolling out this range we expect it to go up to 8 per cent,” said Dhoot.
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| He added 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.
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| “In the past year we have grown at 30 per cent compared with the industry which has seen 18-20 per cent growth,” noted Dhoot.
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| “The projected sales for washing machines for 2006 is 1.10 lakh units compared with 64,408 units in 2005,” said Madhav Nene, deputy general manager-marketing, Videocon Industries-Electrolux.
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| In terms of advertising and marketing spend, Dhoot said the company had kept aside Rs 6 crore for next two months.
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| “The company will spend Rs 25 crore on Electrolux, the appliances brand, and Rs 10 crore on Kelvinator, the kitchen appliances brand, this year,” said Dhoot.
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| The company will also be introducing additional units in the microwave range and expect sales to grow from 58,000 units last year to over 1 lakh units. |
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