Faber Spa, which recently increased its equity stake in the Indian arm to 75 from 51 per cent, plans to further strengthen the joint venture by infusing latest technology and providing R&D support, Kawal Hira, senior vice-president (business strategy) of Faber said.
Faber India also launched its new technology range of kitchen chimneys, which are fitted with 'baffle filter', developed by Faber Spa's R&D wing.
"The new range has been launched keeping in mind the cooking habits of Indian kitchens," Hira said. The company also introduced a 'life time warranty' range of kitchen chimneys.
"Faber is the first and the only appliances company in India to introduce the unique concept of life time warranty on its select products," he said. Faber sells more than 30 models of traditional and decorative chimneys in India, priced between Rs 4990 to Rs 65,000.
The company's product portfolio includes cooking range and microwave ovens. The company is expected to post a sales turnover of Rs 52 crore (Rs 520 million) for the 12-month period ending December 2004, which is 30 per cent higher than last year's sale of Rs 39 crore (Rs 390 million).
"This is higher than the industry growth rate of 20-25 per cent per annum," Hira said. South India contributes almost 40 per cent of the total sales of the company, he added.