Videocon Industries, a maker of consumer electronics, is reviving the Nordmende brand to boost its expansion plans in Europe. It had bought the brand from Thomson in 2005. | |
| Videocon is spending about ¤1.3 billion ($1.7 billion) to build a new television manufacturing plant in Italy and upgrade another facility in the country, Marco Padella, managing director of Nordmende Italia, said at a presentation in Milan today. The investment includes about ¤220 million granted by the Italian government and local authorities. |
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| "The Nordmende brand is full of value. It is associated with quality, sturdiness and performance,'' Padella said. "A new era for Nordmende is starting today.'' |
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| The company will manufacture plasma-screen, liquid-crystal-display and traditional televisions in Italy for the European markets. This will allow it to meet "just-in-time'' orders and optimise distribution in the region, the company said. The new plant, near Caserta in Southern Italy, will be operational in the last quarter of 2009, the company said. |
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| Nordmende TVs and DVD players went on sale this week in Italy, the company said, adding that they will soon be available in Spain and in Germany by September. |
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| "The biggest markets for Nordmende were Germany and Italy,'' Padella said. In Italy, the company plans to have sales of ¤150 million and a market share of 5 per cent at the end of the first year. |
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