New Delhi, June 3 :
New Delhi, June 3:
Electrolux India, the multi-brand company, has started to pare costs to improve operational efficiency even as it consolidates its business through the merger of its three outfits - Electrolux Kelvinator, Electrolux Intron Limited and Electrolux India.
Ram S. Sunder, CEO of Electrolux India said: 'We have decided to amalgamate the three outfits in order to increase operational efficiency and consolidate our commitment to the indigenous market. The process of amalgamation is on at present.'
Electrolux entered the country in 1994 and immediately embarked on a number of takeovers and mergers. Maharaja International, a refrigerator plant, was its first target. Intron, a plant that manufactured front-loaded washing machines, was acquired soon after. The consumer goods giant later acquired the right to use the Kelvinator brand from Voltas and bought two refrigerator plants that the latter had in Nagpur. The string of takeovers was rounded off with the acquisition of two refrigerator plants owned by Hyderabad-based Allwyn.
At present, Electrolux is importing some of its products like air-conditioners, microwaves and oven-toaster-griller (OTGs).
Sunder said, 'We will definitely keep an open mind on future acquisitions though we don't have any definite plan on the table right now.'
'In future, Electrolux will start plants to manufacture the products that are being imported at present,' said Anand Bharadwaj, executive vice president (marketing).
'We are differentiating our products under four brand names. While Maxclean will be the brand that defines the washing machine in the middle segment, Allwyn will represent better food quality (both hot and cold). Kelvinator will comprise a range of products covering a wide spectrum, while Electrolux will be the brand targeted at the affluent.'
Sunder said: 'We want Electrolux to feature in all consumer goods segment and will work accordingly. The company is reviewing its entire Asia strategy.'
The company has registered a profit of Rs 30.45 lakh for the first time in India. Though its real profit posted for this year is Rs 2.5 crore, the loss account of last year has made it lower. The company will consolidate its stand in India with a view to increase its profit share.