MUMBAI, INDIA – Haier’s India announced the acquisition of electronics manufacturer Daewoo Anchor Electronics. 

India’s Daewoo Anchor, with 40 acres in Ranjangaon, Pune, will give Haier, the $13 billion Chinese manufacturer, access to manufacturing capability of TVs, refrigerators, and washing machines. Haier plans to upgrade the facility and create an R & D facility for its refrigerator range. 

The capacity of the facility is estimated at 35,000 units. Haier will begin operating in two shifts. The facility is expected to house more than 500 workers at the onset. 

Shi Zhiyuan, managing director, Haier Appliances (India), said, “Haier’s target is to become one of the prominent players in the Indian market in a few years.”