Haridwar plant to manufacture 300 million units of wiring devices annually, likely to double the capacity by FY 2020
Focus on manufacturing Wiring Devices and Switchgear
Saturday, October 22, 2016: Anchor Electricals, a wholly owned subsidiary of Panasonic Corporation, today announced the commencing of operations at its new manufacturing unit at Haridwar, India. This new manufacturing unit has been set up with an investment of INR 150 crores. It will have production capacity of 25 million units monthly and is expected to double the installed capacity by FY 2020. The recently constructed manufacturing unit will manufacture a complete range of Wiring Devices and Switchgear amongst other devices to meet the increasing demands.
The manufacturing unit is spread over 25,000 square metres and is Anchor’s second biggest factory in India. The environment friendly facility has adopted many green features like the installation of LED lighting and use of treated sewage water.
Mr. Manish Sharma, President & CEO Panasonic India and South Asia said, “Anchor is a strategic business unit for Panasonic India that extends our commitment towards offering safe, reliable and quality electrical products. The opening of the new Haridwar plant is in line with this commitment to offer the best of the Energy Solutions catering to the needs of Homes and Businesses alike. An investment of Rs 150 crores gives the necessary impetus for local manufacturing at the same time drives government’s ‘Make in India’ vision. Additionally, the new plant will add an incremental growth in Anchor’s growing business that will help register a double digit growth and propel it to become the No 1. Electrical Solutions Company in India by 2018.”
Mr. Mitsuru Shirasawa, Managing Director, Anchor Electricals said, “We are ecstatic over the trust we have been bestowed with from the Indian consumers. The new manufacturing unit in Haridwar is an important part of our business strategy as we continue to expand. The new factory will continue to offer our consumers higher value for money, easy availability, supportive post-sales service, contemporary and technically superior electrical products aimed at customer comfort and energy savings. With the addition of this facility at peak production capacity, we will be able to manufacture 600 million wiring devices units and 20 million switchgear poles per annum by 2020. The products manufactured at the said factory will cater to the requirements of the Domestic as well as the Export markets.
Mr. Dinesh Aggarwal,Joint Managing Director, Anchor stated, “In today’s connected world, demand for electrical accessories is on a constant rise and with this, comes an imminent need for quality electrical components. Anchor’s heritage bespeaks of excellence and accessibility at a value based pricing. The new production facility will help answer the domestic demands while leveraging our extensive distribution to penetrate newer markets. We aim to capture the emerging business opportunities from the smaller districts and the developing geographies; at the same time retaining and growing our leadership position in the Wiring Devices segment.”
About Anchor Electricals
Headquartered in Thane, Anchor electrical Private Limited started nearly five decades ago and became a subsidiary of Panasonic Electric Works (now Panasonic Corporation) in 2007. It is one of the largest domestic manufacturers of electrical construction materials with 3 manufacturing locations & 9 manufacturing units and boasts of 55 domestic bases and has employee strength of about 10,000. Its sales and operating profit are steadily growing.It ended the last financial year with net sales of Rupees 20.4 billion. It has a dominant market share in wiring devices and it is constantly expanding its product range and growing market share in Switchgear, Lighting, Indoor Air Quality Equipments, Ceiling Fans, Wires and Cables. Anchor aims to double this in the next three years from the existing and some new product categories. For more information on Anchor, please visit: www.anchor-world.com
About Panasonic India
Panasonic makes available in India & South Asia its wide range of consumer electronics, home appliances like LED & DVD players, Home Theatre Systems, Cameras, Camcorders, Car Audio Systems, Air Conditioners, Washing Machines, Refrigerators, Microwave Ovens, Automatic Cookers, Vacuum Cleaners and an extensive range of system products including communication like Phones, High Definition Videoconferencing, Professional Audio Video products like Broadcast Cameras, Projectors and Displays, Business Solutions including Printers, Whiteboards and Security solutions. The company currently has a workforce of about 13,000 in India & South Asia. For more information on the company and the Panasonic brand in India, please visit http://panasonic.co.in.