- It expects to roll out the first batch of Compaq brand TV sets in the first half of this year
- The company also plans to make investments of around Rs 210 crore on infrastructure development of the facility over the span of the next four years
Ossify Industries that has brand rights of Compaq’s television business said that it has invested Rs 225 crore to acquire a manufacturing facility at Kundli in Haryana. It added that it expects to start production by the end of 2022. The company also plans to make investments of around Rs 210 crore on infrastructure development of the facility over the span of the next four years.
Ossify Industries said in a statement that the plant that was acquired in 2020, is currently under development. It will be commissioned by Diwali of 2022. This manufacturing facility will cater to the domestic and international business for Compaq televisions. The company said that a small per centage of the production may also cater to the domestic and South Asia original equipment manufacturer (OEM) /Original Design Manufacturing (ODM) business for some prominent TV brands. It expects to roll out the first batch of Compaq brand TV sets in the first half of this year.
Next phase of growth
Ossify Industries CEO Anand Dubey said that the acquisition of the manufacturing facility is a crucial step for the company. This is because the company is embarking on its next phase of growth. It will help the company fulfill the projected domestic demand for Compaq.
