Electra Consumer Products has begun setting up an air-conditioner manufacturing plant in the town of Pune near Bombay, India.
The plant will require an investment of $6 million, of which $3.2 million is for purchase of a building used by as a compressor factory by the Swedish company, Atlas-Copco. The plant is due to be complete within nine months.
Electra’s Indian air-conditioner plant will start production early in 1999, and will employ some 300 local workers by the year 2000. The factory’s managers will be sent from Israel. The plant will initially produce window mounted air-conditioners, for sale on the local Indian market, as well as for export to Europe.
Electra Consumer Products chairman Eliezer Ben-Moshe said the air-conditioner market in India was nascent, with a very low penetration level, and a growth rate of some 25% per annum.
Electra Consumer Products has three air-conditioner manufacturing plants: at Rishon Le Zion, Kiryat Gat, and one in France.
Published by Israel's Business Arena March 24, 1998