Whirlpool expanding investment in India; high-tech refrigeration plant to be built; products CFC-free and designed for Indians.NEW DEHLI, India--(BUSINESS WIRE)--Sept. 14, 1995--David R. Whitwam, chairman of the board and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Whirlpool Corp. announced here today that Whirlpool is committed to build a large state-of-the-art plant in India to manufacture chlorofluorocarbon chlorofluorocarbon (CFC) Any of several organic compounds containing carbon, fluorine, and chlorine. A number of different CFCs have been made and sold under the trade name Freon. (CFC CFC See: Controlled foreign corporation )-free, export-quality refrigerators designed especially for Indian consumers. Subject to on-going discussions and the usual approvals, Whirlpool plans substantial investment in the new facility, and construction is expected to begin in early 1996. The facility is expected to commence production by the second half of 1997, and once fully equipped will be capable of producing 1.5 million units annually. The facility's large size will result in economies of scale, which can be passed on to consumers in India and abroad. Whitwam said, ``This is yet another substantial investment in India, demonstrating our commitment and faith in this market. The plant is an important step in making India an export base and is critical to Whirlpool's Asian strategy. We look forward to working with our Indian partners and the surrounding community to make the plant and its products a global example of quality and innovation.'' The new factory will feature the latest CFC-free technology to manufacture refrigerators free of ozone-depleting CFCs. Commenting on the developments, Whitwam said, ``Whirlpool Corp. is dedicated to eliminating the use of CFCs and has accelerated the phase-out of these chemicals to comply with the Montreal Protocol Montreal Protocol, officially the Protocol on Substances That Deplete the Ozone Layer, treaty signed on Sept. 16, 1987, at Montreal by 25 nations; 168 nations are now parties to the accord. . The new refrigeration refrigeration, process for drawing heat from substances to lower their temperature, often for purposes of preservation. Refrigeration in its modern, portable form also depends on insulating materials that are thin yet effective. factory in India will use `clean technologies' to manufacture refrigerators and freezers that comply with global environmental standards. Put simply, the manufacturing process and the product will be CFC-free.'' Whitwam explained, ``Another benefit of this plant is that it enables us to manufacture world class, quality products which are specifically designed for Indian conditions.'' He added, ``The Indianization of the products will based on extensive consumer research conducted in India over the past year. For example, some refrigerators will have a bigger body and a smaller freezer because Indian consumers told us this is more desirable. We are confident that the products that come out of the new factory will exceed the expectations of Indian consumers.'' Whirlpool is India's largest U.S. investor in the major home appliance industry and has brought in more than US$120 million into India, and gained a strong presence through its partnerships with Kelvinator of India Ltd. and TVS TVS Transient Voltage Suppressor TVS Textilverband Schweiz TVS TV Virtual Surround TVS Television South (UK; 1982-1992) TVS Tornado Vortex Signature (doppler radar) TVS Total Volatile Solids Ltd., now known as Whirlpool Washing Machines (storage) washing machine - An old-style 14-inch hard disk in a floor-standing cabinet. So called because of the size of the cabinet and the "top-loading" access to the media packs - and, of course, they were always set on "spin cycle". Ltd. Whirlpool Corp. is the world's leading manufacturer and marketer of major home appliances. Headquartered in Benton Harbor Benton Harbor, city (1990 pop. 12,818), Berrien co., SW Mich., on Lake Michigan at the mouth of the St. Joseph River opposite St. Joseph; inc. 1869. A long-time fruit industry, tourist, and industrial center, noted for appliance manufacturing, the city declined in , Mich., the company manufactures in 12 countries and markets products under 10 major brand names in more than 120 countries. CONTACT: Whirlpool Corp., Benton Harbor Robin Skiles, 616/923-2456 |
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