Sep 7, 2009
Godrej to Set up TV Factory in Himachal
In its bid to gear up for the nation wide distribution, Godrej Appliances plan to invest Rs 120 crore to set up a television facility for its Eon range in Himachal Pradesh by the middle of next year. The consumer durable unit of privately held Godrej & Boyce Manufacturing Co, is close to finalising a location in Himachal for setting up a television factory with annual capacity of around four lakh units. Currently the TV sets are being produced in a small factory near Baddi in Himachal Pradesh.
Godrej forayed into the colour television market in September last year with the launch of its EON range of XLCDs and CRT models in Andhra Pradesh, initially. The company claims to have sold 35,000 sets across the two categories in Andhra Pradesh since its launch. The expansion in the television space will be met through a mix of debt and internal accruals
George Menezes, chief operating officer, Godrej Appliances, said, "Response from consumers in Andhra Pradesh where we launched the products first have been good so far, which is why we are planning to have a pan-India presence in the category next year." He further added that the company is targeting 30% growth in revenues from durable goods to reach Rs 1,700 crore for the year ending March 2010.
