V-Guard to switch on solar water heaters plant in Tamil Nadu - report

Sep 25, 2013 - Indian firm V-Guard Industries Ltd (BOM:532953) will on Wednesday put on stream a new production facility for solar water heaters in Tamil Nadu, the Hindu Business Line said.

The plant, situated in Perundurai will be able to manufacture 90,000 pieces of solar water heaters each year. With its launch, V-Guard Industries will seek to rank among the top players on the solar water heaters market in two years and is already planning to sell its products overseas, the daily said citing V Ramachandran, head for marketing and strategy at V-Guard.

The manufacturing site, touted as the biggest integrated factory for polymer tanks and stainless steel tanks for solar water heaters, required a total investment of INR 180 million (USD 2.9m/EUR 2.1m). Its location was chosen to best serve the states of Karnataka and Maharashtra -- the two key markets for solar water heaters, Ramachandran explained.

V-Guard Industries has voltage stabilisers, inverters, digital Uninterruptible Power Supply (UPS) devices, pumps, house wiring cables, fans and electric and solar water heaters in its portfolio. It has also started making cooktops and switchgears. In fiscal 2012/13 through March, the company generated INR 13.6 billion in revenues and plans to boost it by 25%-30% by March 2014.

(INR 10 = USD 0.159/EUR 0.118)

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