Softel and Salton in talks
By SiliconIndia | Friday, 24 November 2006, 06:00 Hrs
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 monthsâ 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.
âDue to strong competition from cheaper Chinese products it is very difficult to survive in the kitchen appliances market in India,â 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.
Post your Comment
All form fields are required.