True Power to set up 2 mfg units for expansion

New Delhi, Feb 11: Albit Electronics, owner of True Power brand of power backup products will invest Rs 25 crore to set up manufacturing units for expanding its operations to touch over Rs 100 crore turnover by 2007-08.

''We will set up a manufacturing unit at Parwano (Himachal Pradesh) to produce inverters and UPS,'' company's Managing Director Vipin Goel said.

The company sold 1.25 lakh inverters and UPS last year and expected to scale it by 300 per cent next year.

The production in the plant will commence by the first quarter next fiscal.

The company will also set up a greenfield manufactuing plant at Uttaranchal to produce wet batteries, the production of which will commence by December-end this year, Mr Goel said adding last month 10,000 units of batteries were sold.

''We have already touched Rs 42 crore revenue mark for the last fiscal and is heading for Rs 66 crore this fiscal,'' he said.

The key components for the manufacturing will be imported from the US.

''The overall market share of power back up products is around Rs 600 crore. We are having 10 per cent share in it,'' Mr Goel said.

Out of the total investment, 5 per cent will be pumped in developing R&D facilities.

Home grown R&D along with global technology sourcing from companies like Texas, ADI, Motorola have contributed a better product with no data loss, greater flexibility an cost effective, higher fidelity and improved signal quality, Mr Goel said.

UNI