Times Group picks up 9.9 pc in Weston brand co

New Delhi, Sep 18: Manufacturer of Weston brand of consumer electronics Dixon Technologies today said it has sold 9.9 per cent stake in the company to The Times of India Group for an undisclosed sum, as part of its growth plans in both Indian and overseas markerts.

The Rs 400 crore company has plans for rebuilding the Weston brand, one of the first colour television brands in India, with investment into research and development and marketing activities.

In 2005-06 company's CTV and DVD sales grew by 27 per cent and 70 per cent respectively, a company statement said.

The company which is also the Original Equipment Manufacturers (OEM) of TVs, ACs, DVD players, and PCBs for some MNCs, is looking at expanding its product base to DVD recorders, DVD players with LCD display and micro wave ovens.

It has set up new facilities in Dehradun at a cost of Rs 12 crore. At a production capacity of 50,000 Color Televisions or 25,000 Air conditioners per month for each of these facilities, the total number of manufacturing facilities with the group is seven across various states in the country. The total production capacity available with the group is One million TVs, 2.5 million DVD players and 0.5 million ACs and microwave ovens.

UNI