White goods company Hitachi Home and Life Solutions (India), a subsidiary of Hitachi Home and Life Solutions Inc. Japan, plans to double its export turnover in the next financial year.
"We are the largest exporters of air conditioners in the country and plan to double our exports in the next financial year," said Amit Doshi, vice-president, Hitachi, Home and Life Solutions (India).
The company has exported around 3,000 units in the last financial year and expects to close the current year with exports of more than 10,000 units. It hopes to export 20,000 units by 2004-05.
The company’s turnover from exports was Rs three crore in the last financial year. It has already exceeded Rs 16 crore for the current financial year and expects the figure to top Rs 34 crore for the next financial year.
In 2003, the company’s revenues from exports were 10 percent of the turnover, and it hopes to raise this ratio to 20 percent in the current financial year.
The company exports more than 50 percent of its air-conditioners to Mid-East and SAARC nations and plans to reach countries in Africa as well.
The company expects a growth of more than 25 percent this year as compared to a 15-percent growth in the air-conditioners market. Hitachi commands a 12-percent share in the country’s air-conditioners market and expects to raise this to 20 per cent in the next two years.
Hitachi is headquartered in Ahmedabad, India and has a manufacturing facility at Kadi in Mehsana district. This among the seven Hitachi room A-C facilities worldwide.
Hitachi closed down its Silvassa, India plant as part of a major restructure exercise following the acquisition of a majority stake in the company by Hitachi, Japan, from the Lalbhai group. After facing losses for two consecutive fiscal years, Hitachi has targeted a 20-percent cut in operating costs in the current year.
The company has also moved its corporate office from Ahmedabad, India to Kadi, Inida.
to Daily News