Business Daily from THE HINDU group of publications
Thursday, Apr 12, 2007
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Business Daily from THE HINDU group of publications Thursday, Apr 12, 2007 ePaper |
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Corporate
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New Projects Whirlpool Indian arm gets $20-m investment Our Bureau
Kolkata April 11 Global home appliances major Whirlpool Corp will be investing $20 million in its Indian subsidiary, Whirlpool of India Ltd, over the next 18 months. The proposed investment would go towards augmenting the company's manufacturing capacities in the country, according to Mr Tamal Kanti Saha, Vice-President (Sales), Whirlpool of India Ltd. Addressing a news conference here on Wednesday, Mr Saha said the proposed investment would be on setting up manufacturing capacities for high-end refrigerators and other product categories. The parent company was bullish about the Indian market, he said, adding that already Whirlpool India had posted an operating profit on its performance during April-December 2006. The company was hopeful of generating a net profit during the fiscal 2007-08. According to him, Whirlpool India has an accumulated loss of Rs 104.8 crore. It was hoped that this loss would be wiped out soon. During the nine months ended December 31, 2006, Whirlpool of India registered a turnover of Rs 1,245 crore and an operating profit of Rs 44.21 crore, against an operating profit of Rs 2.18 crore during the corresponding period of last year.
More Stories on : New Projects | Air-conditioners & Refrigerators
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