Softel and Salton in talks

By SiliconIndia   |   Friday, 24 November 2006, 06:00 Hrs
Printer Print Email Email

Bangalore: Softel Machines is in negotiations, with the U.S-based Salton Holdings, marketer and distributor of a broad range of branded, high-quality small appliances. Famous for its Minerva brand of water purifiers, Softel could close the deal where the $250-million Salton could buyout upto 51 percent of the stake.

Softel Managing Director, Anil Kumar Jain said talks are on and a deal is expected to be finalized in a few months’ time adding that the price was yet to be decided.

He also mentioned that once Salton takes a majority control, the company will go national with a range of products from the US company adding that Softel has so far focused only on the Gujarat market with its water purifier, ice-cream maker, soda maker, hand blender, popcorn maker and atta kneader.

“Due to strong competition from cheaper Chinese products it is very difficult to survive in the kitchen appliances market in India,” said Jain Salton, who has so far designed under the brand names of Salton, George Foreman, Toastmaster, Breadman, Juiceman, Juicelady, White-Westinghouse and Farberware amongst others.

he further said that Salton is going to manufacture products in China with the U.S specifications and sold in India.

Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..