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Racold Thermo Ltd is to consider setting up another plant or expand its existing plant in Pune in the next two years.
The company’s Pune plant has an annual capacity to manufacture 5 lakh water heaters. Racold currently sells around 4 lakh units and hopes to cross 5 lakh units in the next two to three years. “Then we need to consider one of the two options,” said Mr Mathew Job, Managing Director, Racold.
Mr Job, however, clarified that the company has not taken any decision at this point. “We still have one year to take a decision,” he said. Investment of around Rs 70 crore will be required to set up the plant, he told newspersons.
Racold, which is a 100 per cent subsidiary of Ariston Thermo Group, Italy, enjoys a 25 per cent market share in India’s Rs 1,200-crore water heater market. This includes electric, solar and gas-based heaters, with nearly 125 products in its portfolio, he said.
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