Hitachi to invest add Rs50 cr in next 2 yrs on expansion

Hitachi to invest add Rs50 cr in next 2 yrs on expansion
PTI
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First Published: Fri, Aug 28 2009. 02 53 PM IST
Updated: Fri, Aug 28 2009. 02 53 PM IST
Ahmedabad: Air-conditioner maker Hitachi Home & Life Solutions (HHLI) Friday said it is planning to invest Rs50 crore in the next two years to expand its production and increase its market share in the country.
“We are planning to invest additional Rs50 crore in the next two years to expand our production capacity both in room and commercial AC segment,” HHLI Managing Director Shinichi Lizuka told reporters here.
HHLI currently holds 7% market share in the country in room AC segment, while in ductable commercial AC company’s market share stands at 17% in the country.
“We aim to increase our market share in the room AC segment to over 10% this year, even as our focus remains the commercial AC segment which has been hit by the downturn in the past year. But HHLI has fared better than the rest of the AC industry which has degrown by 35% in the last six months,” HHLI Assistant Vice-President Gurmeet Singh said.
The company produced around 1,20,000 AC units combining all the segments in the January to June period this year as against 97,000 units in the same period last year.
“We plan to increase our production to around 1.90 lakh units by the end of the current financial year with our expanded capacity. While in the current calender year we plan to produce about 1.75 lakh units,” Singh added.
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First Published: Fri, Aug 28 2009. 02 53 PM IST