Whirlpool to invest Rs160 crore in Indian operations

New Delhi: Whirpool India, targeting to grab the top position in the home appliances segment, plans to invest up to Rs160 crore for intensifying operations in the next one and half years.

The company said it is a whisker away from its closest competitor LG in the home appliances market and would fill the existing gap with new products and aggressive marketing.

The company would invest between 15-20 million dollars (approximately Rs90 crore) in the next 12-18 months in production and another Rs70 crore on advertising and marketing this year.

The proposed investment of Rs90 crore would be made for ramping up capacities in existing production facilities at Faridabad, Pune and Pondicherry. Whirlpool however, is not planning any new units in the near future. Whirlpool India expects to turn around by 2008.

The company''s operating profit has increased from Rs2 crore in the April-December 2006 period to Rs44 crore for the same period this fiscal and net profit will be achieved by 2008.

Whirpool has announced multi category expansion and unveiled four new products including a new frost free refrigerator, washing machine, air conditioner and clothes dryer.