Date:29/03/2006 URL: http://www.thehindu.com/2006/03/29/stories/2006032905411700.htm

Business

Sanyo to diversify

Special Correspondent

Plans to introduce power solutions

BIG PLANS: Toshimasa Iue (left), President, Sanyo, with Ajit G. Nambiar, Chairman and Managing Director, BPL, at a press conference in Mumbai on Tuesday. -- PHOTO: PAUL NORONHA

NEW DELHI: The Japanese consumer electronics giant, Sanyo has announced that it will diversify into the commercial and industrial sector in India shortly after relaunching its consumer products in the market last year. In a statement issued after meeting the Prime Minister, Manmohan Singh, Sanyo President, Toshimasa Iue, said it was interested in introducing "other businesses" into India.

Mr. Iue, who selected India as his first overseas destination since taking over the reins of the company last year, said "We have big plans for India and after building a firm foundation using our initial investment, we hope to make it a pillar of our growth in the future."

He said the company planned to introduce power solutions such as reachargeable batteries and solar modules along with mobile phones and digital cameras into the Indian market through its subsidiaries, Sanyo India Pvt. Ltd. and Sanyo BPL Pvt. Ltd. Sanyo COO, Keiji Oshima, said "We aim to make Sanyo the first company to establish a successful cold chain in India, which will ensure fresh produce to the consumer and revolutionise the lifestyles of people here."