Whirlpool India will invest $15-20 million over the next 12-18 months for expanding its products range.
The company unveiled three new variants of refrigerators, washing machines and microwaves. It manufactures around 1.5 million units in a year, and hopes to achieve a 20 per cent growth this year.
Managing director Arvind Uppal, who was in Chandigarh to launch new products, said, "The newly launched products will be supported by a multi-media campaign including above the line - advertising featuring brand ambassadors and a host of below the line activities such as innovative marketing tie-ups, in-shop display, promotions, direct marketing, product demonstrations and workshops."
The home appliances manufacturer Whirpool Of India Ltd made a loss of Rs 5.8 crore (Rs 58 million) in the third quarter of last fiscal, while in the quarter ended September 2005, the loss was Rs 19.18 crore (Rs 919.8 million). In the quarter ended June 2005, the net loss was Rs 9.96 crore (Rs 99.6 million).
"We are focussing on making better operational profits and I don't want to give any timeline on making net profit. We would be investing about $15-20 million over the next 12-18 months for creating a new line for future products to be introduced in the Indian market," said Uppal.Do you want to discuss stock tips? Do you know a hot one? Join the Stock Market Investments Discussion Group
