New Delhi, Sep 17 (UNI) With the aim to capture 30 per cent share of India's water heater market by 2010, US-based electronic water appliances maker AO Smith today announced the launch of a range of water heaters in ten cities.
''We have started the launch of the water heater with ten cities where they will be available very soon. By 2010, we plan to be present in almost every corner of the country...And hopefully, we will be able to bag 30 per cent share of the Indian water heater market by that time,'' AO Smith National Sales and Marketing Manager Tamal Chaudhary told reporters here.
''As we are unveiling the product very late as far as this fiscal is concerned, we plan to capture three to four per cent of the market share by the end of this financial year,'' he added.
The company is also opening ten after-sale service centres in the cities where it has hit the market.
Asked about the company's expansion plans and future investments, Mr Chaudhary, while parrying the question, said, '' Right now, I cannot disclose the amount of money we are going to pump into the company. It will be an investment running into millions of dollars.
We have planned something major by the year 2010.'' In India, the company plans to open its 25-acre manufacturing facility in the IT City of Bangalore, where it is headquartered.
''Initially, the product would be sourced from Nanjing, China, where we are based and later on the manufacturing would begin from the Bangalore facility,'' A O Smith Vice President (International) David R Warren informed.
The two models on the offer, EWJ-6 and EWJ-10, are priced at Rs 5,200 and Rs 8,100 respectively.
For distribution purposes, the company has tied up with Jaquar&Company Ltd, the country's largest manufacturer and exporter of bath fittings.
The company, which occupies 80 per cent of the water products segment in the US, is the largest water heater manufacturer in North America with 40 plants worldwide.
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