The Hindu Business Line : Carrier looks to raise productivity

CARRIER India, the subsidiary of Carrier Corporation, a major manufacturer of heating, air-conditioning and refrigeration systems and equipments, has chalked out an aggressive strategy for the Indian market.

"The goal is to drive profitability through increased productivity," said Mr Neville P. Moos, Chairman and Managing Director, Carrier India. The company will focus on streamlining cost and capacity to meet market requirements and better serve customer needs, he said.

Consistent with this strategy and faced with tough market conditions of rising raw material cost and selling price challenges, Carrier India has launched an extensive cost-reduction drive. "This initiative will increase productivity levels across the India region by another 50 per cent in 2004."

According to an official communiqué, Carrier India has announced strong results for 2003 and for the first quarter of 2004. During the board meetings of Carrier Aircon Ltd and Carrier Refrigeration Pvt Ltd, Mr Moos said, "We are pleased with the progress made to date in face of a difficult environment. We have grown our volumes by 15 per cent in 2003 and over 25 per cent in the first quarter of 2004. It is satisfying to see that both our subsidiaries have delivered solid revenue and earnings growth."

During the first quarter of 2004, the company recorded sales of 48,300 air-conditioners against 38,400 units in 2003, clocking a 26 per cent increase.

More Stories on : Performance | Air-conditioners & Refrigerators

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