Financial Daily from THE HINDU group of publications
Tuesday, Nov 16, 2004
Financial Daily from THE HINDU group of publications Tuesday, Nov 16, 2004 |
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Corporate
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Announcements Media Video gets Rs 10-cr order from Haier Group Our Bureau
Mumbai , Nov. 15 MEDIA Video Ltd said it has bagged an order of Rs 10 crore from Haier Appliances (India) Pvt Ltd, a part of Haier Group. Media Video Ltd is an OEM with a distribution network of 132 distributors and over 3,000 dealers in India. Media's product range includes colour televisions, mobile phones and PLASMA/LCD/TFT colour television monitors. Media Video Ltd has through its wholly owned subsidiary company, Media Industries (MIL), acquired land to set up another manufacturing facility for audio-video products at Himachal Pradesh. In the first phase, the company is planning to set up a production line for DVD players in mass volume with an installed capacity of 2 million pieces per year. This production line will be the largest facility in India and the second largest in Asia. The company is negotiating for the supply of plant and machinery and technical know-how with Fuji Corporation, Japan and Juki Corporation. Japan. The unit will start commercial production in 8-10 months. The total cost for setting up this project is around Rs 23 crore. "The company is expecting that at the peak level, this unit will generate an additional turnover of Rs 250 crore; 30-40 per cent of the total production of this unit will be exported for which tie-up with various trading companies worldwide is being entered into,'' a news release said.
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