Water heater maker Racold Thermo, a wholly-owned subsidiary of Artiston Thermo Group of Italy, is planning to establish a pan-India presence and augment the production capacity of its existing plant at Pune or open a new one in the next two years. “At present, 75 per cent of our Pune facility's capacity is being used, and we are looking at expanding or constructing a new plant in 2014. In view of this, we are hoping to double our sales and achieve Rs.500-crore turnover in the next three years,” said Mathew Job, Managing Director, Racold Thermo Ltd.
He was addressing reporters here recently at the launch of Racold's new range of water heaters. The company, which has a relatively less presence in the eastern and northern regions of the country, is also planning to set up a dealer base and increasing its channel network in these two regions. It is also increasing investment in research and development (R&D).
“In areas where the quality of water is not to the desired level, we have to invest in R&D in order to provide better heating elements so that customers get better value for their products,'' he said, without divulging details. “Our solar water heater segment has a 15 per cent year-on-year growth and will soon increase to 35 per cent of our product line up due to strong demand,” he said.
Solar water heater growth, according to Mr. Mathew, is fuelled by crippling electricity shortages and government subsidy for solar technology. The launch of the four new product ranges, he added, was in line with the company's focus to remain a major player in the field.
