In a bid to consolidate its position in the regional household refrigerators and freezers industry, Whirlpool of India Limited has recently announced its intent to augment its single door refrigerators’ manufacturing capacity in the country by 6 lakhs per annum. As per reliable sources, the Gurugram headquartered firm plans to invest around INR 182 crore over the span of next two years to upgrade its refrigerators’ plants in India.
For the record, Whirlpool of India Limited, part of world’s leading manufacturer and marketer of home appliances company Whirlpool Corporation, boasts of two state-of-the-art refrigerator manufacturing facilities at Pune and Faridabad with a combined production capability of 21 lakh single door refrigerators each year.
As per industry experts, the household refrigerators and freezers market would benefit immensely through this move, given the fact that the Indian Government has, of late, been investing massively to electrify the rural hinterlands. The electrification would apparently bring about a lifestyle change in the rural areas and would reportedly accentuate the sale of affordable single door refrigerators. As per the Whirlpool’s Bombay Stock Exchange filing, the setting up of additional capacity is being embarked upon to cater increasing demand for the firm’s single door refrigerators, which currently has a track record of around 94 percent capacity utilization.
Meanwhile, it would be prudent to take note of Whirlpool’s momentous journey in India’s burgeoning household refrigerators and freezers market. As part of its global expansion proposition, the United States based Whirlpool Corporation entered India by forging a partnership with TVS group in the late 1980’s. The firm apparently forayed into household refrigerators and freezers market of the nation in the year 1995 by acquiring Kelvinator India Limited. The home appliances maker then proceeded to merge its TVS and Kelvinator acquisitions to develop its own full-fledged brand under the name, Whirlpool of India Limited.