Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Whirlpool to Turnaround Indian Operations
Jan 26, 2005
 Printable format
 Email this Article
 Search

U.S.-based Whirlpool is planning on investing in its Indian operations in an effort to wipe out the division's losses.

The company plans to invest U.S. $9 million to $10 million into building its brand presence over the next year, which will be in addition to the $5 million to $10 million it invests annually in India operations.

"Our biggest challenge is to offset the rise in material costs of steel, plastic, and oil. This global phenomenon -- sweeping all markets including North America and Europe, has impacted the industry significantly," said Whirlpool Corporation Chairman & CEO Jeff M Fettig, during a visit to India . "We have a robust operating footprint and good distribution. Our target is to register a growth that’s 1.5 to 2 times higher than the industry," he said.

Garrick D’Silva, regional vice-president, Whirlpool Asia, said the firm would return to profitability within a very short time frame. "It could be three or six months," Mr. D’Silva said.

Whirlpool had recorded net losses of Rs 33.65 crore in 2003-2004, against a net profit of Rs 8.64 crore the previous fiscal. As for market share, the firm has conceded its leadership position to Korean manufacturers LG Electronics and Samsung in refrigerators and washing machines.

Whirlpool intends to continue with its strategy of pricing products 2 percent to 5 percent higher than competition.

"When material costs are consistently rising, companies have two choices -- either raise prices or loose money. We have raised priced by 2.5 percent to 4 percent. We intend to continue this strategy," Mr. Fettig said. He added that the firm’s target market included 60 million households. (The Times of India)

Back to Daily News

 

Daily News

...........................................................

Jul 31, 2014: LG Home Appliance, LG Air Conditioning See Lower Quarterly Sales

Jul 31, 2014: AHAM Canada New Chair is Doell of Samsung Electronics Canada

Jul 29, 2014: Jarden Reports Record Net Sales in 2Q

Jul 29, 2014: LG USA Names VanderWaal to Head Marketing

Jul 29, 2014: Smart Meters May Provide An Entrance Point for Cyber Attacks on the Connected Home

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

March 2014: Market Research - 62nd Annual U.S. Appliance Industry Forecast
February 2014: Appliance Magazine Market Insight: December 2013
January 2014: Market Research - Appliance Historical Statistical Review: 1954-2012
January 2014: Appliance Magazine Market Insight: November 2013




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Pharmalive | Plastics Today | Powder Bulk Solids | Canon Trade Shows