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Whirlpool of India plans to invest US$20 million in new product lines in the next 12-18 months. "The funds will be invested in three of our existing facilities," T.K. Saha, vice president of sales, said in a news conference. The funds for investment would be drawn mainly from internal ccruals, he said.
The firm, 83% held by Whirlpool Corp., also expects to post a revenue growth of 20% to 25% in FY09 with new product launches.
Growth would come from products like microwave ovens, air-conditioners, and water purifiers, apart from refrigerators and washing machines, Saha said. Currently, refrigerators contribute 70% of revenues.
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