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Neha Kaushik

New Delhi , March 28

IN a development that will provide a fillip to the sales of its refrigerator compressors, Tecumseh India has bagged major export orders for the product segment. Sales of refrigerator compressors in the domestic market were being impacted by the stagnant growth seen in the refrigerator category.

The company has bagged an order worth Rs 35 crore from Vestel, a leading industrial group of Turkey with business revenues in excess of $1 billion, which will be executed this year. Recently, Tecumseh India had also secured an order for Rs 20 crore from Defy Appliances Ltd, South Africa's largest manufacturer and distributor of home appliances.

"In view of the increased demand, we are ramping up capacity at our refrigerator compressor plant in Ballabgarh to 2.4 million units from 1.6 million units," Mr Vipin Sondhi, Managing Director, Tecumseh India, said.

The company is a major exporter of compressors for air-conditioners and the major export markets include Saudi Arabia, China and the UAE. The company, which had gross sales of Rs 475 crore last year, saw about 40 per cent of its revenues coming through exports.

It is targeting gross sales of Rs 650 crore in the current year, and expects exports to grow 36 per cent to Rs 380 crore. Exports should account for about 60 per cent of Tecumseh India's revenues in the current year.

Further, the company expects its new rotary compressor plant to commence production by July. The rotary plant would initially be producing about 5-lakh units a year. Half of the production at the new plant is likely to cater to the export market.

Tecumseh India is a 100 per cent subsidiary of Tecumseh Products Company USA, a $2-billion firm which has 29 manufacturing locations across four continents.

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