Financial Daily from THE HINDU group of publications
Saturday, May 21, 2005
Financial Daily from THE HINDU group of publications Saturday, May 21, 2005 |
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Marketing
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Market Shares AC brand Daikin eyes Rs 500-cr turnover Our Bureau
Mr Toshiki Hayashi, Managing Director, Daikin Airconditioning India Pvt Ltd, at a press conference in Chennai on Friday. - Bijoy Ghosh
Chennai , May 20 DAIKIN Airconditioning India Pvt Ltd, a 100 per cent subsidiary of the Daikin Industries Ltd, plans to increase its market share, especially in the southern region. Mr Toshiki Hayashi, Managing Director, Daikin Airconditioning India Pvt Ltd, said that the company planned to invest over Rs 1 crore in providing technical training to dealers for after-sales service. The company has over 50 dealers in the South alone. He said that with the boom in information technology and the BPO industry, there has been an increase in demand for high-end air-conditioners in the southern market. The market in the South has been growing at 30 per cent. The company registered a turnover of Rs 130 crore for the fiscal 2004-05 with the southern region contributing about 30 per cent. Mr Hayashi said the company was targeting a turnover of Rs 500 crore in five years. Daikin stopped manufacturing air-conditioners at its plant in Silvassa. He said that it would think of manufacturing in the country only when the critical mass is reached and quality spare parts are available in the country. It will continue to import parts, assemble and sell, he said. Daikin also plans to introduce a one-tonne air-conditioner in the market. It may be recalled that the $6-billion Daikin Industries entered the domestic market in 2000 with an 80:20 joint venture with Siddharth Shriram Group. In November 2004, Daikin acquired the 20 per cent Shriram stake. The company also sold off the Shriram brand of water coolers and air-conditioners to Usha International Ltd, a Siddharth Shriram Group company.
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