Japanese sanitaryware firm plans factory in India
Monday, 25 August 2008
CHENNAI, Aug 23 (Internet): Japan-based global sanitaryware company Toto Ltd Saturday said it would set up a manufacturing plant in India once its annual sales turnover crosses Rs.7 billion ($162.8 million).
"We have 27 plants world over with seven of them being in China. We will set up a plant in India once we get the requisite volumes. The Indian plant would roll out products that could be exported to the Middle East, South East Asian countries and even Japan," Toto Asia Oceania Ltd president Kazuo Watanabe told IANS on the sidelines of a press meet here Saturday.
At present, the company's annual sales turnover is Rs.2 billion.
Toto is now selling its products in India that were manufactured in the group's different plants around the world.
"We are looking at building our brand here and not volumes," Wantanabe said.
World number one sanitaryware company Roca Sanitario of Spain has already entered the Indian market by acquiring 50 per cent stake in Parryware Glamourooms Pvt Ltd in 2006.
"We have 27 plants world over with seven of them being in China. We will set up a plant in India once we get the requisite volumes. The Indian plant would roll out products that could be exported to the Middle East, South East Asian countries and even Japan," Toto Asia Oceania Ltd president Kazuo Watanabe told IANS on the sidelines of a press meet here Saturday.
At present, the company's annual sales turnover is Rs.2 billion.
Toto is now selling its products in India that were manufactured in the group's different plants around the world.
"We are looking at building our brand here and not volumes," Wantanabe said.
World number one sanitaryware company Roca Sanitario of Spain has already entered the Indian market by acquiring 50 per cent stake in Parryware Glamourooms Pvt Ltd in 2006.