24/06/2016
PUNE: Consumer appliances and electronic goods maker Haier
India is planning to set up a manufacturing plant at Ranjangaon near Pune with
the total investment of Rs 490 crore. The plant will be fully operational by
September 2017.
Haier India is expecting to close the year with over Rs
2,000 crore revenue as compared to Rs 1,700 crore in FY16. The company is
looking to treble its revenue to Rs 6,500 crore by 2020 on the back on
increased manufacturing and increased penetration of consumer goods in the
country and plans to achieve top three position in the market.
"With the expansion of the manufacturing facility,
Haier aims to gradually reduce the dependence on imports and increase exports
from the country to aggressively contribute to the growth of the Indian
economy. By 2020, we are looking at being a $1 billion company. Our turnover
will be close to Rs 6,500 crore. We will also have our higher production
capacity in place," said Eric Braganza, president, Haier India.
Currently, the company has a network of 700 direct dealers
and plans to expand it by another 300 in the next two years. "We have
invested Rs 490 crore at our plant at Ranjangaon Pune to double capacity of
refrigerator production and make new products too. We had to increase the
production capacity due to the growth in the sales, therefore we had to build
up additional manufacturing facility in India," he added.
Earlier the company was only making refrigerators at the
plant. Now it will also make washing machines, ACs, TV panels and water
heaters. “Globally, Haier Group has been a pioneer in home solutions and
appliances technology and has enjoyed a great market share across the world.
The growth demonstrated by Haier India in the recent few years has been
phenomenal and we’re really optimistic about the company’s position in the
country. The expansion of Haier’s manufacturing facility in Pune further
strengthens the group’s focus on India,” said Song Yujun, managing director
Haier India.
Haier India, a 100% subsidiary of China's Haier Group, began
operations in 2004 and started manufacturing in India by acquiring a 40-acre
plant at Ranjangoan in 2007.
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