· Intends to double the manufacturing capacity as part of the strategic expansion process by 2020.
· Breaks Ground for commissioning it’s second Greenfield facility, expected to be operational next year.
New Delhi, November 4, 2015: Anchor Electricals, a wholly owned subsidiary of Panasonic Corporation, today commenced with the ground breaking ceremony at its new manufacturingfacility at Haridwar, India. This new manufacturing unit is set up with an initial investment of about INR150 crores, will produce a complete range of wiring devices, aligned with the aggressive growth plans of the company. The ceremony was conducted by the top company officials of Panasonic Corporation Eco Solutions Company including Vice President Shuuji Okayama, Managing Director Mr. Kazuhiko Ito, and the top Management of Anchor including Managing Director Mr. Takaki Oguri for a new greenfield building to be commissioned on the said premises, by end of 2016.
With the new unit that will be constructed in a land area of 40,000 m2, the company would scale up its present capacity as per the planned phase wise expansion in the additional space. Since its acquisition by Panasonic, Anchor has commissioned two new facilities, one in Dhamdachi for manufacturing Fans and Daman Unit V its first Greenfield facility that manufactures its wiring devices (switches and accessories). The company’s existing facility in Haridwar manufactures approx. 20 million pieces of wiring devices per month. With a fully operational facility located on the new premise, the company scales up its capacity by over 30% in the current year. This as well as another new factory building that will be commissioned next year will produce Anchor’s new range of economy as well as premium modular switches and switchgear, catering to the electrical requirements of the mass as well as the niche markets.
The new unit will be located in close proximity to Anchor’s existing manufacturing unit in Sidcul Area of Haridwar. The company intends to double its total manufacturing capacity in Haridwar by 2020, at full capacity expansion, with the commissioning of its second Greenfield facility on the said premises.
Mr. Takaki Oguri, Managing Director, Anchor Electricals said, “India is one of Panasonic’s key strategic markets and we have been fortunate to receive a warm response from the customers for our superior quality products. The new manufacturing unit in Haridwar is an important part of our growth strategy in India and other countries in the region, that we intend to serve from here. With this expansion, we would be able to fulfil the additional demands of existing and emerging consumers for contemporary and technically superior electrical products aimed at customer comfort and energy savings.”
Mr. Dinesh Aggarwal – Joint Managing Director Anchor stated, “We have kick-started the second phase of Anchor’s expansion. We want to make optimum use of the “Make in India” initiative led by our honourable Prime Minister to drive a robust growth in our manufacturing sphere. The exciting growth and transformation journey of Anchor would continue as we drive more commitment into the market, generate more employment and foster stronger relationships through our products, technologies and workforce.”
Mr. Ashok Gangar– Director Sales and Marketing, Anchor mentions, “We have already strengthened our geographical reach in India and today Anchor enjoys a colossal direct brand presence with 53 offices Pan India. With the new production facility we will be working towards capturing new business opportunities from the smaller emerging markets and new market segments. We intend to cover the smaller cities and the new developing geographies within India and abroad, thus strengthening our leadership position in the Wiring devices and Switchgear Business.”
About Anchor Electricals
Headquartered in Mumbai, 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 4 manufacturing locations and boasts of 53 domestic sales bases and has employee strength of about 10,000. Its sales and operating profit are steadily growing and it ended the last financial year with net sales of approximately Rupees 19 billion. It has a dominant market share in wiring devices and it is constantly expanding its product range and growing market share in Circuit Breakers, Lighting, Fans and Wires/ Cables. It has made a robust foray in the Energy Generation Business with Solar products sold under Panasonic as well as Anchor brand and increased its value proposition for the solar customers with setting up of its EPC team. Anchor aims to double this is the next three years from the existing and some new product categories. For more information on Anchor, please visit http://www.anchor-world.com