RBS Home Appliances, a distributor of Siemens home appliances in India, said it aims to double turnover this year due to increasing sales of washing machines and refrigerators.
According to Vipul B. Raval, managing director, the company might look to establish a manufacturing unit in India within the next 3 to 5 years, when sales should attain critical volume.
RBS Home Applicances said it would also look at launching a range of cooling and cooking appliances in the near future, as 50 percent of the company's sales currently come from washing machines. Mr. Raval said the company was also looking at launching direct-cool refrigerators.
With the new product line-up, RBS Home Appliances said it will also strengthen distribution network across India, especially in northern parts.
Before March 2002, RBS Home Appliances was known as Bosch and Siemens Home Appliances Group (BSH), which was incorporated in 1997 as a wholly-owned subsidiary of BSH in Germany.
BSH received India's Foreign Investment Promotion Board approval on the condition that it would have a manufacturing unit in 4 years of its operation. When the Indian arm of the German firm could not adhere to the mandatory condition, the entire shareholding was transferred to resident Indians, and it was restructured as RBS Home Appliances. (The Economic Times)
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