The Hindu : Pricol launches Firewall range of security systems

Online edition of India's National Newspaper
Tuesday, Jul 15, 2003

Business

Business

Pricol launches Firewall range of security systems

By Our Staff Correspondent

CHENNAI JULY 14. Xenos Technologies today launched its first offering, Firewall, a new range of vehicle convenience and security systems. The company was formed by Pricol, the Coimbatore-based automotive components manufacturer, and Directed Electronics of the U.S., a leader in vehicle convenience and security systems, to market and service a range of high-end automotive accessories. Pricol manufactures the Firewall range of products under licence from Directed Electronics.

Addressing a press conference here today, Vijay Mohan, Vice Chairman and Managing Director, Pricol India, said the company had invested Rs. 7 crores in the project.

The U.S. partner had entered into a buyback agreement with Pricol for its high-end automotive accessories. The buyback would depend on the performance of Firewall in the Indian market. Xenos will market Firewall and additionally provide marketing solutions. From July to next June, Pricol would produce 50,000 units of accessories for four wheelers and 75,000 units for two wheelers.

The company hoped to garner a market share of 10 per cent in the next one year.

Xenos has tied up with the TVS group for enabling wide reach to rural and metro markets. The security systems come with a unique lifetime warranty and are priced at Rs. 1,400 onwards for two-wheelers and around Rs. 2,575 onwards for four-wheelers.

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