Timex entails Rs 24 cr investment on expansion

New Delhi, Feb 22 (UNI) Watch-maker Timex today said it will invest around Rs 24 crore in setting up a new manufacturing plant, opening around 120 outlets across the country and on marketing operations.

''We would set up a manufacturing plant at Baddi in Himachal Pradesh by investing Rs 10-11 crore which would be functioned by this April,'' company's Vice President Salil Sadanandan told reporters here.

Another Rs 10-12 crore will be pumped into marketing and opening around 120 outlets across the country by 2008.

''Out of 120 retail outlets, five would be in NCR Delhi, '' Mr Sadanandan added.

Timex also launched 12 exiting style models for men in metal (stainless steel), including highly featured products like the retrograde, chronograph alarm with indigo, expedition, e-compass and several other styles of chronograph with indigo.

The new collection is priced between Rs 4,495 to Rs 5,995 and will be available at all the 'Time Factory' outlets and leading multibrand watch stores across the country.

UNI