BCCL picks up 9.9% stake in Dixon Tech

NEW DELHI: Bennett, Coleman & Co (BCCL) has acquired a 9.9% stake in Dixon Technologies, a Rs 400-crore company. Dixon Technologies, manufacturers of the Weston brand of TVs and DVDs, would use the funds for its proposed growth plans in both the Indian and overseas markets.

The company plans to re-build the Weston brand with a new thrust on technology and investments into R&D and marketing. “There is a huge synergy in the Dixon and BCCL tie up,” Sunil Vachani, chairman and managing director, Dixon Technologies, said. The company has set up two new facilities in Dehradun at a total cost of Rs 12 crore.

Besides, it has seven manufacturing facilities across the country and its total production capacity is 1m TVs, 2.5m DVD players and 0.5m ACs and microwave ovens. During ’05-06, its CTV sales grew 27% and DVD sales grew by 70% over the last financial year.