Fedders forays into air-conditioners

Company press release, March 28, 2003

Mumbai

Global air-conditioning giant, Fedders Corporation, today made a foray by launching Air Conditioners under the 'Fedders' brand, in Mumbai.

Fedders Corporation, the New York Stock Exchange listed American company, headquartered in Liberty Corner, New Jersey, USA, is a leading global manufacturer and marketer of air treatment products, including air conditioners, air cleaners, dehumidifiers, humidifiers, and thermal technology products. The company was founded in 1896 and has been a leader in the air conditioning industry for over 50 years. With a majority of its manufacturing taking place in Asia, the company's facilities in Asia are located in Ningbo, Shanghai, Quanzhou, Xi'an, Suzhou and Nanjing, China, as well as in Dadra, India and Paranaque, Philippines. Fedders also manufactures air treatment products in the United States in Illinois, North Carolina, New Mexico, New Jersey, Georgia and Texas. All products are manufactured to Fedders single standard of quality, worldwide.

Speaking on company's expectation Mr. Daryl Erbs- Group Vice President said, "With Indian air conditioner market expanding at the rate of over 20 percent a year, and market penetration estimated to be under two percent, India, the world's second most populous country, offers Fedders tremendous opportunities for growth."

Fedders is committed to the Indian market and has set up a manufacturing facility in Dadra and an assembly plant in Himachal Pradesh. Fedders also plans to establish India as a sourcing base for other parts of the world where Fedders has a presence and for additional new markets.

Sales offices have been set-up in Delhi, Mumbai, Chandigarh and its products are also being sold in western UP and Haryana. In support of its commitment to the Indian market, executives from Fedders' U.S. operations and Singapore-based research and development center have attended recently held major dealer meetings in Delhi, Mumbai and Chandigarh.

Through the introduction of its innovative new products designed specifically for the Indian market, Fedders will continue to shape air conditioning in India. Elaborating on the flagship product of the company, the 1.25-ton AC, Mr. Arvind Mayar- Managing Director Fedders International said, "We aim to position this model as the entry product optimum for the densely populated urban areas, where there is shortage of space. The 1.25 ton machine would involve lesser initial cost as well as lesser running cost and is optimum for urban households."

Fedders air conditioners offer the latest technology in providing quiet, efficient air conditioning equipped with sate-of-the art compressors which meet the company's single worldwide standard of quality.

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