Electrolux to invest Rs 200 cr in new plant

Kochi, Aug 4: Appliances company Electrolux is investing Rs 200 crore in a new plant at Udhamsinghnagar in Uttarakhand to manufacture its new range of refrigerators, washing machines and other premium products, Company CEO Anirudh Dhooth said today.

Addressing a press conference here to announce the special Onam promotion in Kerala, Mr Dhooth said the Greenfield project would also manufacture air conditioners and assemble microwave ovens.

Company COO Eric Braganza said Electrolux was focussing on reviving its business in India and had set a sales target of Rs 650 crore this year compared to Rs 500 crore last year.

Describing Kerala as a very important market for Electrolux, he said the company was hoping to do business worth Rs 22 crore during Onam this year compared to Rs 16.5 crore last year, an increase of 65 per cent.

The company would be spending about Rs 1.5 crore on its Onam promotion, which includes an assured gift on every Electrolux purchase and an aggressive marketing pitch to promote its new range of refrigerators, washing machines and air conditioners.

While nationally, Electrolux had a ten per cent share of the refrigerator market, in Kerala its share was 17.5 per cent.

On the occasion, Mr Dhooth and Mr Braganza also launched a new range of LCD TVs brought out by the associate company Hyundai Electronics.

Mr Braganza said since its launch in September 2004, Hyundai had carved a three per cent market share in consumer electronics and expected to increase it to five per cent in 2007-08.

Besides Flat screen and LCD TVs, the company also produces DVD players and recorders, home theatres and air conditioners.

UNI