Kolkata, March 19
ANCHOR Woods, a 76:24 joint venture between Anchor Electricals and British General Ltd of the UK, hopes to earn Rs 20 crore during 2005-06, according to Mr Dinesh Agarwal, Country Head of Anchor Woods.
Speaking at a press conference held here to announce the launch of the Woods range of wiring devices, light control and home automated system, Mr Agarwal said Anchor Electricals had emerged as the largest manufacturer of electrical switches and accessories in the world. The company's turnover in 2004-05 was expected to be around Rs 550 crore. The domestic market for electrical switches and accessories has been pegged at around Rs 1,600 crore.
According to him, the scope of the joint venture includes the design, manufacture and sale of the Woods range of products in India and the SAARC region to begin with. A manufacturing facility would soon be set up in Hardwar. The products that would be introduced include British monobic switches, wiring accessories under brands such as Matrix, Viva, Scota, Elton and Rivoli.