Panasonic India’s manufacturing facility at Jhajjar in Haryana — Panasonic Techno Park — will become operational by November 2012, bringing out washing machines, air conditioners and welding equipment.
The company, a 100 per cent subsidiary of Japan headquartered electronics giant Panasonic Corporation, would invest $200 million over a five year period at the facility in the first phase, the Panasonic India President, Mr Daizo Ito, told PTI here.
“Construction commenced in April (this year) and is expected to be completed by April 2012. It will be used to manufacture air conditioners, washing machines, welding and cutting machines after March 2012. It is currently under process to be operational in November 2012,” Mr Ito said.
He said the products would largely cater to the domestic market and provide employment to 3,500 people.
Once operational, the plant would have the capacity to produce 10 lakh air-conditioners, four lakh washing machines and 25,000 units of welding machines each year.
With this new facility, the company also announced its foray into the welding equipment business, which was being imported from Japan and China since 1988.
“We will manufacture welding equipment in the Jhajjar factory. We will appoint dealers for distribution and marketing,” the Panasonic Welding Systems President, Mr Koichiro Masai, said.
The company would appoint nationwide dealers for distributing welding equipment, including cutting machines, he said. “Currently, Panasonic holds about 10 per cent market share in this business, we want to reach 30 per cent in the next two years,” he said.
He said the company, as a group, aims to garner Rs 5,500 crore revenue this fiscal compared with Rs 3,200 crore last year.