Anchor Electricals, a wholly owned subsidiary of Panasonic Corporation, has announced the commencing of operations at its new manufacturing unit at Daman. The new manufacturing unit has been set up with an investment of Rs 200 crore, and will produce a complete range of Wiring Devices that cater to the volume and niche markets.

The company plans that for the first two years, the products manufactured at Daman will cater to the domestic market, post which exports to Middle East will commence. The plant, with an annual production capacity of 240 million units currently, is expected to double the installed capacity by FY 2013.

Mr Daizo Ito, President, Panasonic India, said, "Keeping in mind our commitment to India, this new Anchor factory will enable us to reach out to more and more consumers with our best in class products. He added, "Currently, Anchor contributes significantly towards our annual turnover and we are very hopeful to drive increment in market share in the coming years for this segment. Going forward, Anchor will play a significant role for Panasonic in offering solutions in the Indian market."

Mr Harumasa Furutani, Chairman, Anchor Electricals, said, "We have growing confidence in the Indian market as well as the response from consumers. This new manufacturing unit in Daman is an important part of our business strategy in India and we are aiming at an integrated manufacturing function- from raw material to finished goods, which will enable us supply faster and expand our capacity for growth."

The plant, spread over 27,700 m2, is Anchor's first Greenfield factory after it was acquired by Panasonic in 2007. Contributing to CO2 reduction, the environment-friendly facility has adopted many green features including installation of LED lighting, solar panels and use of treated sewage water.