Financial Daily from THE HINDU group of publications
Saturday, Apr 16, 2005
Financial Daily from THE HINDU group of publications Saturday, Apr 16, 2005 |
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Corporate
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Announcements Marketing - New Products & Services Bosch to launch `do-it-yourself' tools next month Our Bureau
Mr Navin Paul, Deputy General Manager, Bosch Power Tools, demonstrating the functioning of a tool in Bangalore on Friday. — G.R.N. Somashekar
Bangalore , April 15 BOSCH Power Tools, a division of the euro 40-billion Bosch group, today announced its plan to launch new products targeting the home and small professional segments under its new concept `do-it-youself'. The new products consists of IXO, a battery powered screwdriver, Smart Home Kit for carpentry, plumbing and electrical repairs, and Aquatak, a pressure jet mounted equipment for wet cleaning of buildings, floors, glasses and vehicles. The products, to be launched next month, are set to yield sales turnover of Rs 6 crore in the first year ending December. Briefing media persons here on Friday about the products, Mr Navin Paul, Country Sales Director (Power Tools Division), said the tools have been designed to help execute jobs at home ranging from drilling, fixing screws and cleaning instead of depending on carpenter, electrician or cleaners. To popularise the do-it-yourself concept in India, Bosch has targeted the new housing complexes, which are maintained by professional facility management companies, apart from individual customers who have taken to small repair works in their homes as hobbies. While world over, the usage of power tools between the industrial and do-it-yourself segments was equally divided, in India it was only two per cent of its overall sales, Mr Paul said, adding that Bosch plans to increase it to 30 per cent in about five years. Bosch has tied up with Canara Bank for loan assistance to carpenters, electricians and plumbers to popularise the do-it-yourself power tools and has equipped six of the bank's 13 training centres with facilities to impart training to the artisans. Bosch achieved a turnover of Rs 120 crore last year in the Rs 300-crore power tools market, which is estimated to grow at 12 per annually.
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