Daikin India to pump Rs. 250 Crore for India expansion
Daikin Airconditioning India Pvt. Ltd.( DAIPL) is a 100% subsidiary of Daikin Industries Ltd., Japan, a global leader in the manufacturing of commercial-use and residential air conditioning systems. Backed by the superior technology, the organization offers a wide range of energy efficient air conditioning solutions to the Indian customers.
- (1888PressRelease) November 25, 2011 - New Delhi- Daikin Airconditioning India Pvt. Ltd. (DAIPL), the fully owned subsidiary of Daikin Industries Ltd., Japan today announced its second phase of investment of Rs 250 Crore (4.5 bn JPY) for India expansion. Of which Rs 122 Crore (2.2 bn JPY) will be utilized for the new Residential Air-conditioning manufacturing line within its existing factory premises at Neemrana, Rajasthan. This second phase investment reflects Daikin's commitment and is inline with the vision to develop & market a product specifically designed for the discerning Indian consumers. The philosophy to leverage localization to drive profitability remains a core strategic intent of Daikin Industries.
Currently the Daikin India manufacturing plant, strategically located at Neemrana, Rajasthan boasts of a sprawling area of 160,000 sq metres that, entailed an initial investment of Rs. 210 Crore made in 2009. The new investment will help build a manufacturing line with a capacity of 5 lakh room air-conditioning units per year making it one of the most advanced & largest full-line air-conditioning facilities in India. This new facility will also house a sub-research center for customization of products for the Indian consumers.
Earlier this year Daikin Industries Ltd., Japan recorded global sales revenue of 940 billion yen with an increase of 10% in comparison to last year. Riding on the back of this global success, Daikin India is pursuing an aggressive multi pronged strategy to become a leader in the Indian HVAC market by 2015.
Discussing Daikin's future plans, Mr. Toshio Nakano, Chairman Daikin Industries (Thailand) Ltd., highlighted, "The setting up of new Residential AC facility will assist Daikin to leverage the local potential & drive the economies of scale to provide a product that is researched, developed & marketed in India. This will ensure seamless flow of the Daikin air-conditioning experience for customers across India - one of the fastest growing markets globally for Daikin."
On the occasion Mr. Kanwal Jeet Jawa, Managing Director of DAIPL, said, "We have plans to get aggressive in our approach in the Indian market & Daikin's endeavor is to establish itself as a main player in the consumer air-conditioner segment. He further added that," The new Residential AC facility will equip us with a competitive edge in terms of brand & product. As the new factory carries a mission to deliver product high on performance, yet affordable & will be Daikin India's market defining product."
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