Haier announces increased investment for expansion in India; gets awarded the 1st ‘Make in India for Excellence’ Award in Home Appliances category

New Delhi, Aug 20, 2015 Haier, the global leader in Home Appliances & Consumer Electronics and  World’s Number 1 brand in Major Appliances for the 6^th Consecutive Year*, was awarded the prestigious Make In India Awards for Excellence under the consumer durable category by MII. Mr. Kalraj Mishra, Union Cabinet Minister for MSME and Veteran Hockey Player and former captain of Indian Hockey team, Mr. Dhanraj Pillay presented a trophy and a plaque to recognize Haier India’s contribution to Indian economy’s growth. In a big boost to the government's Make in India campaign Haier has also announced to increase its mega investment to Rs. 465 crore for expansion of the company’s manufacturing facility in the country.

The ‘Make in India Awards for Excellence’ honors the contribution of companies, organizations, institutes, and individuals among others, who are an epitome of excellence in their chosen area of interest.

The new proposed investment of Rs. 465 crores will scale up manufacturing operations of the company in India by introducing production of new product lines like, washing machines, air conditioners, LED panels, water heaters and deep freezers, apart from refrigerators. By 2017, Haier plans to increase the manpower by 120% to 2600 employees, across the country. The expansion will also serve as an additional opportunity for the vendors & OEMs, resulting in an increased 50% vendor employment with increased local production and lesser imports of products. The investment plans to expand Haier’s existing manufacturing facility at Ranjangaon, Pune has resulted after a Memorandum of Understanding was signed between the Govt. of Maharashtra and Haier Group in China earlier this year.

Commenting on the occasion, Mr. Eric Braganza, President Haier India said, “It is a moment of great pride for the brand to be awarded with the ‘Make in India Award for Excellence’, under the home appliances category. Receiving the award is a testimony to Haier’s contribution towards the Make in India project of Government of India. Making quality products in the Indian market has always been our key area of focus. We are further looking at a major expansion of our factory at Ranjangaon, Pune. We expect this additional capacity to go on stream by early 2017.” He further added, “At Haier Group, innovation and localization has been the core of the business since its inception, which has helped the company to scale up new heights. The increase in investment will not only enable Haier to explore new world of opportunities but also benefit the consumers, employees, dealers and other key stakeholders.”

In line with Haier’s global localization policy, the investment will enable the company to strengthen local R & D, to reinstate capabilities to manufacture customer inspired product innovations for the Indian consumers, enunciating the brand philosophy of ‘inspired living.’ Haier is also strengthening its dealer’s network focusing on tier II & III markets.

ABOUT HAIER INDIA

Initiated in January 2004, Haier Appliances (India) P. Ltd is a 100 percent subsidiary of Haier Group. Headquartered in New Delhi, Haier India has 33 operations spread from Bombay, Bangalore, Chennai to Calcutta and a complete distribution network throughout the country as well as a manufacturing facility in Pune. Haier India employs 540 staff (On Pay Rolls), among which 272 of them are with the sales team while the other 268 are front-line employees. Products offerings of Haier India range from refrigerators, air conditioners, washing machines, TVs, water heaters, freezers to microwave ovens, with a special focus on local needs. For example, washing machines that work at nearly Zero Water Pressure help solve the biggest challenge that Indian consumers face in their daily lives, while Haier BMR refrigerators have also been well received by Indian consumers due to its large refrigeration capacity which caters to local people’s dietary habits. A larger refrigeration capacity means consumers can store more vegetables while the refrigerator also makes people’s lives easier by placing the refrigerating chamber at the top of the machine.

ABOUT HAIER GROUP

Haier is the world's leading home appliance provider, with global revenues amounting to US$ 32.6 billion and profits of US$ 2.40 billion in 2014. Its mission is to create innovative products according to the demands of our customers. Haier has been named the number one global home appliance brand every year for the last six years by Euromonitor International, a world leader in strategy research for consumer markets, and in 2012 the Boston Consulting Group named Haier one of the ten most innovative companies in the world as well as the most innovative company in the consumer and retail category. Its global headquarters are based in the Chinese city of Qingdao and it also has regional headquarters in Paris, New York and Tokyo to serve its clients in Europe, America and Asia. Haier also has 5 R&D centers, 66 trading companies and 24 industrial parks worldwide. Haier Electronics Group Co., Ltd. a subsidiary of the Haier Group, is listed on the Hong Kong Stock Exchange (HKG: 1169). By drawing on its competitive strengths in marketing, the Internet, logistics and services, Haier Electronics Group aims to provide an integrated and unrivalled consumer experience. Qingdao Haier Co., also a subsidiary of Haier Group, is listed on the Shanghai Stock Exchange (SHA: 600690) and focuses on driving innovation in smart home technologies.

For more information, please contact: Ragini Vasishtha| ragini@haierindia.com / Seemanti Ghatak | seemanti.ghatak@2020msl.com|