Electrolux Kelvinator to Turn Profitable by 2006 Feb 14, 2005

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Electrolux Kelvinator (EKL), the Indian subsidiary of Sweden-based Electrolux, said it would turn profitable by 2006.

"For some time we were in the red, but with encouraging signs coming throughout the first half of 2004, I can say with confidence that we will turn profitable by 2006," said Ajay Kapila, vice president of Sales & Marketing, EKL.

EKL also said it plans to launch vacuum cleaners, garden equipment, and professional tools this year.

"Our plans for the new launches in these categories are in the pipeline and it should happen soon," Mr. Kapila said. "With new products and categories coming in, we expect a 25 percent to 30 percent growth in revenue this year." (PTI)

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