Whirlpool of India added 2.86% to Rs 1902.95 while PG Electroplast jumped 3.56% to Rs 987.80 on the BSE.
Under the arrangement, PGEL will manufacture some of the stock keeping units (SKUs) for Whirlpool at its factory at Roorkee. PGEL is already an existing supplier of Whirlpool branded air conditioners and both companies will continue to evaluate the potential expansion opportunities.
Narasimhan Eswar, managing director of Whirlpool of India said, “We are excited to announce that Whirlpool has tied up with PG Electroplast to manufacture certain SKUs of its semi-automatic washing machines. With Whirlpool’s exceptional designs and technology and PGEL’s manufacturing expertise, today’s announcement rearms our commitment to the Government’s ‘Make in India’ initiative and providing best in class products to our consumers at an aordable price point.”
Vikas Gupta, managing director (Operations) of PG Electroplast said, “We are pleased to deepen our relationship with Whirlpool. As a leading home appliance manufacturer in India, Whirlpool is renowned for their industry-leading products. With this association we aim to unlock new opportunities for growth and help Whirlpool deliver exceptional value to its customers while setting new benchmarks in efficiency.”
Whirlpool of India is primarily engaged in manufacturing and trading of refrigerators, washing machines, air conditioners, microwave ovens and small appliances and caters to both domestic and international markets.
PG Electroplast is a trusted one-stop solution provider for Electronic Manufacturing Services (EMS) and contract manufacturing to most leading consumer durable and electronics brands in India. The company has one of the biggest capacities in Plastic Injection molding and has capabilities across the value chain in original equipment manufacturing (OEM) and original design manufacturing (ODM) products like room ACs, washing machines, air-coolers, and LED TVs.