Haier expands Pune plant's capacity to lower imports

New Delhi, Nov 16 (PTI) Consumer appliances andelectronic goods maker Haier India expects its product importsto fall by half with the additional ca...

New Delhi, Nov 16 (PTI) Consumer appliances andelectronic goods maker Haier India expects its product importsto fall by half with the additional capacity at Pune plantbecoming operational, a company official said.

Haier, which today inaugurated additional capacity at itsplant at Ranjangaon in Pune built with an investment ofRs 600 crore, will manufacture washing machines, ACs, TVpanels and water heaters.

"I expect our product imports to go down from around 50per cent at present to 20-25 per cent with this new plant. We,however, will continue to import some high end products,"Braganza added," Haier India President Eric Braganza told PTI.

Haier is eyeing over 45 per cent growth in its net salesat Rs 2,300 crore in the current calender year, he said.

Earlier, the company was manufacturing refrigerators atthe plant. Haier's production capacity now stands at 3.8million units.

The inaugration event was presided by Maharashtra ChiefMinister Devendra Fadnavis. Haier said with this additonalcapacity, the company will generate 2,000 new direct jobsalong with 10,000 indirect employment opportunities in theecosystem.

Haier had signed an MoU with the Maharashtra governmentin 2015 for the plant.

Haier India, a 100 per cent subsidiary of China's HaierGroup, began operations in 2004 and started manufacturing inIndia by acquiring a 40-acre plant at Ranjangoan in 2007. PTISVKMR.

This is unedited, unformatted feed from the Press Trust of India wire.

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