Financial Daily from THE HINDU group of publications
Wednesday, Nov 19, 2003
Financial Daily from THE HINDU group of publications Wednesday, Nov 19, 2003 |
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Corporate
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Outsourcing AB Electrolux plans to source components from India Our Bureau
New Delhi , Nov 18 AB Electrolux, a household and outdoor appliances major, has identified India as a sourcing base for auto components. The company plans to source components from India for its outdoor division, which makes garden and forestry equipment such as chain saws, riders, lawn movers and lawn tractors. AB Electrolux is also organising a national vendor selection and sourcing meet in association with the Auto Components Manufacturers Association of India (ACMA) on November 20 here, which would see participation of a 20-member team from the company's operations from Sweden, North America and Asia Pacific and more than 40 top Indian vendors. AB Electrolux currently sources materials and parts worth $ 9 billion every year, of which 30 per cent will now be sourced from Asia Pacific, including India. The company had set up an international purchasing office in Gurgaon, in July this year to source raw materials, components and finished goods for its global manufacturing operations. In the past few months, it has already given an order worth more than $ 1 million to the Indian piston manufacturing company, Abilities (India) Pistons & Rings Ltd. The company would commence the sourcing of other components such as forgings, needle roller bearings, ferrous and non-ferrous casting, sheet metal components and auto electricals in the next few months. Mr Nick Sowden, Vice-President, Asia Pacific Purchasing, AB Electrolux, said, "India fits in well with Electrolux's growth strategy, since it has a strong supplier base which is globally recognised for its superior quality and performance benchmarks. India is certain to play a strategic role in the company's growth plans for the Asia Pacific region." AB Electrolux currently sources components from many Asian countries through its sourcing divisions in China, Taiwan, South Korea, Malaysia, and Thailand.
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