Videocon is spending about ¤1.3 billion ($1.7 billion) to build a new television manufacturing plant in Italy and upgrade another facility in the country, Marco Padella, managing director of Nordmende Italia, said at a presentation in Milan today. The investment includes about ¤220 million granted by the Italian government and local authorities. |
"The Nordmende brand is full of value. It is associated with quality, sturdiness and performance,'' Padella said. "A new era for Nordmende is starting today.'' |
The company will manufacture plasma-screen, liquid-crystal-display and traditional televisions in Italy for the European markets. This will allow it to meet "just-in-time'' orders and optimise distribution in the region, the company said. The new plant, near Caserta in Southern Italy, will be operational in the last quarter of 2009, the company said. |
Nordmende TVs and DVD players went on sale this week in Italy, the company said, adding that they will soon be available in Spain and in Germany by September. |
"The biggest markets for Nordmende were Germany and Italy,'' Padella said. In Italy, the company plans to have sales of ¤150 million and a market share of 5 per cent at the end of the first year. |
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