Samsung to set up $25 mn refrigerator plant

By siliconindia   |   Tuesday, 10 December 2002, 20:30 IST
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Samsung India Electronics Ltd Tuesday announced that it would invest $25 million to set up a refrigerator manufacturing plant.

NEW DELHI: The facility, which would be located at Noida near Delhi, would be the fourth overseas refrigerator plant of its parent, Korea's Samsung Electronics Co, Samsung India Vice President (Marketing) V P Zutshi told a news conference. Zutshi said the new plant would have an initial installed capacity of five lakh refrigerators annually, when production starts in August next year. "With our present focus on home appliances, in the next two-three years, we are looking at a business structure which is evenly balanced between consumer electronics and home appliances," Zutshi said. At present, consumer electronics and home appliances contribute 60 and 40 per cent respectively to the company's total sales. It hopes to increase the share of home appliances in its total turnover in the next few years, he said. This year, Samsung India expects to cross its turnover target of Rs 1,520 crore as against Rs 1,350 crore last year. The company currently sources the conventional direct cool refrigerators from Voltas and frost-free refrigerators from its sister plants in Thailand and South Korea. Samsung India has already started making washing machines and air conditioners last year which, Zutshi said has enabled it to achieve a 25 per cent growth in the home appliances business during January-November this year.