Panasonic India's wholly-owned
subsidiary Anchor Electricals
recently commissioned its first
greenfield manufacturing unit ever
since Panasonic took over the
company in 2007. The new Daman
plant that would manufacture the
entire range of wiring devices was set
up with an investment of Rs.200
crore. The company estimates that
production will cater to the domestic
market initially after which it will
look at the Middle Eastern countries
for exports.
The plant's capacity, current at 240
million units per year, is likely to be
doubled by March 2013. The
manufacturing unit spread over
27,700 sqm will employ around 1,500
people when it reaches full capacity.
Daizo Ito, President, Panasonic
India, said, "India is a key growth
potential market for Panasonic, and
therefore an area of strong
commitment. In 2007, we acquired
this 49 year old trusted brand -
Anchor, in an effort to offer worldclass
differentiated products across
India that are customized to the
Indian consumers' preferences.
Keeping in mind our commitment to
India, this new Anchor factory will
enable us to reach out to more and
more consumers with our best in
class products. He added, "Currently,
Anchor contributes significantly
towards our annual turnover and we
are very hopeful to drive increment in
market share in the coming years for
this segment. Going forward, Anchor
will play a significant role for
Panasonic in offering solutions in the
Indian market."