A wholly owned subsidiary of Panasonic Corporation, Anchor Electricals said that it is investing Rs 150 crore in a manufacturing facility in Haridwar.
According to a statement by it, the facility will be producing a complete range of wiring devices.
By 2020, the company intends to double its manufacturing capacity in Haridwar, at full capacity expansion with the commissioning of its second greenfield facility on the said premises.
Takaki Oguri, the managing director, Anchor Electricals said that “India is one of Panasonic’s key strategic markets. 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.”
He further added that “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.”