Anchor Electricals Invests 150 Crores in Haridwar, Uttrakhand; Opens New Manufacturing Unit

PRESS RELEASE / 22nd Oct 2016
Anchor Electricals Invests 150 Crores in Haridwar, Uttrakhand; Opens New Manufacturing Unit

Haridwar: Anchor Electricals, a wholly owned subsidiary of Panasonic Corporation, today announced the commencing of operations at its new manufacturing unit at Haridwar, India. This new manufacturing unit has been set up with an investment of INR 150 crores. It will have production capacity of 25 million units monthly and is expected to double the installed capacity by FY 2020. The recently constructed manufacturing unit will manufacture a complete range of Wiring Devices and Switchgear amongst other devices to meet the increasing demands. The manufacturing unit is spread over 25,000 square metres and is Anchor’s second biggest factory in India. The environment friendly facility has adopted many green features like the installation of LED lighting and use of treated sewage water.

Mr. Manish Sharma, President & CEO Panasonic India and South Asia said, “Anchor is a strategic business unit for Panasonic India that extends our commitment towards offering safe, reliable and quality electrical products. The opening of the new Haridwar plant is in line with this commitment to offer the best of the Energy Solutions catering to the needs of Homes and Businesses alike. An investment of Rs 150 crores gives the necessary impetus for local manufacturing at the same time drives government’s ‘Make in India’ vision. Additionally, the new plant will add an incremental growth in Anchor’s growing business that will help register a double digit growth and propel it to become the No 1. Electrical Solutions Company in India by 2018.” Mr. Mitsuru Shirasawa, Managing Director, Anchor Electricals said, “We are ecstatic over the trust we have been bestowed with from the Indian consumers. The new manufacturing unit in Haridwar is an important part of our business strategy as we continue to expand. The new factory will continue to offer our consumers higher value for money, easy availability, supportive post-sales service, contemporary and technically superior electrical products aimed at customer comfort and energy savings.

With the addition of this facility at peak production capacity, we will be able to manufacture 600 million wiring devices units and 20 million switchgear poles per annum by 2020. The products manufactured at the said factory will cater to the requirements of the Domestic as well as the Export markets. Mr. Dinesh Aggarwal,Joint Managing Director, Anchor stated, “In today’s connected world, demand for electrical accessories is on a constant rise and with this, comes an imminent need for quality electrical components. Anchor’s heritage bespeaks of excellence and accessibility at a value based pricing. The new production facility will help answer the domestic demands while leveraging our extensive distribution to penetrate newer markets. We aim to capture the emerging business opportunities from the smaller districts and the developing geographies; at the same time retaining and growing our leadership position in the Wiring Devices segment.”