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issue: March 2005 APPLIANCE Magazine

New Delhi Report
Videocon's European Venture


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By Adite Chatterjee, New Delhi correspondent, APPLIANCE magazine

The Videocon Group has unveiled plans to set up a manufacturing hub in Europe.

Videocon recently announced that it would be taking over a color picture tube (CPT) unit owned by the French company Thomson in Anagni, Italy. The plant has a capacity of 3 million CPTs per annum with annual sales of between 200 million euros and 250 million euros (approx. U.S. $324.2 million). The group plans to eventually use the unit as a European hub for manufacturing consumer products and components. Thomson has confirmed that it would be selling the plant to the Indian appliance company, as it plans to exit the low-margin color television manufacturing business.

Meanwhile, in the domestic market, Videocon is planning to invest Rs 1.2 billion (approx. $34.6 million) this year. This will include capital expenditure of Rs 1 billion (approx. $23.1 million). The company has recently launched a new sub-brand called X-Lent. The company sold 850,000 CTVs this year and is targeting sales of 1.1 million units this year.

 

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