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Videocon unites with Electrolux kelvinator
 
Videocon unites with Electrolux kelvinator
By next year Consumer durables maker Electrolux Kelvinator will merge with Videocon Industries said by MD Mr Anirudh Dhoot. He further added "We are planning to merge Electrolux with Videocon Industries shortly , maybe next year". And he even said that a decision on the deal will be taken at the companys board meeting scheduled after Diwali. Electrolux eyes a turn over of Rupees 400 crores till december,05 Mr Dhoot said.He even said that that since Videocon took over Electrolux in July this year,sales have been good and the company will breakeven by March next year and begin making profits. The company follows the calendar year January-December. Electrolux sets eyes on the overall growth of 40% during the festive season and is targeting 300% growth in microwaves and 150% growth in air conditioners . During the festive season the company will spend 12% of its turnover on its ads. Its also considering integration of its plants in Maharashtra. Marketing G.M Sanjeev Wadhwa said" We are working on a possible merger or relocation of our Butibori plant that is a small plant and just 60-km away from our Warora plant. The process of integrating the plant is on."
Posted On : 10/7/2005 3:10:31 PM

 
 
 
Videocon unites with Electrolux kelvinator