Whirlpool to invest $ US 20 mn
Whirlpool India Ltd on Tuesday said it would invest USD 20 mn during the current fiscal in product development and research and development activities.
By PTI |
KOLKATA: Whirlpool India Ltd on Tuesday said it would invest USD 20 mn during the current fiscal in product development and research and development activities.
Whirlpool VP, sales Tamal Kanti Saha told PTI that the company was not planning to introduce the Maytag brand products in India as it did not have any positioning in the country. The company would like to continue with the Whirlpool brand.
Whirlpool's US parent had takenover Maytag, a leading player in the US consumer goods market in 2006.
Speaking about the investment plans Saha said the company would invest USD 20 million during the year in a few projects engaged in R&D activity.
"We are trying to go for 'modularity' format for each product category to bring down cost and investment for future developments on each product category," Saha said.
The company said it was aiming to attain a topline growth of 20 per cent over the last year's turnover of Rs 1808 crore despite cost and inflationary pressure on the industry.
During the festive months of September-October the company aimed to rake in sales of Rs 400 crore.
The company has begun manufacturing large capacity refrigerator of 400 and 450 litres which is first in the country and invested Rs 10 crore in setting up a new line.
Refrigerators still contribute 60-65 per cent of the total revenue of the company.
The company is looking at export of Rs 100 crore during the year.
Whirlpool VP, sales Tamal Kanti Saha told PTI that the company was not planning to introduce the Maytag brand products in India as it did not have any positioning in the country. The company would like to continue with the Whirlpool brand.
Whirlpool's US parent had takenover Maytag, a leading player in the US consumer goods market in 2006.
Speaking about the investment plans Saha said the company would invest USD 20 million during the year in a few projects engaged in R&D activity.
"We are trying to go for 'modularity' format for each product category to bring down cost and investment for future developments on each product category," Saha said.
The company said it was aiming to attain a topline growth of 20 per cent over the last year's turnover of Rs 1808 crore despite cost and inflationary pressure on the industry.
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During the festive months of September-October the company aimed to rake in sales of Rs 400 crore.
The company has begun manufacturing large capacity refrigerator of 400 and 450 litres which is first in the country and invested Rs 10 crore in setting up a new line.
Refrigerators still contribute 60-65 per cent of the total revenue of the company.
The company is looking at export of Rs 100 crore during the year.
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