Fiamma Sdn Bhd (FSB) of Malaysia said it expects sales to grow 23 percent in the current financial year ending Sept. 30, 2003. "The target is achievable. The company has always maintained a 20-percent growth rate in the past few years,’’ general manager Terence Lai said at a launch of Elba-branded air-conditioners and washing machines. FSB is the sole distributor of Elba household electrical products.
According to Mr. Lai, Elba was an established brand name in the front-loading washing machine segment. "With the launch of the new Casano series, we are confident of capturing 30 percent of the market share within the next one year,’’ he added. Mr. Lai estimated that the company would be able to sell 12,000 units of the new washing machine annually. "We are a new player in the air-conditioning market, but we believe we would be able to get a 5-percent market share in 12 months," he said. He added that the commercial use ceiling/floor split-type air-conditioners and the wall-mounted series for home users would make a strong impact in the market. Elba home appliances include the cooking range, washers, refrigerators/freezers, audio-visual products, and other small electrical appliances.
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