Haier, manufacturer of consumer durable products, is now taking in washing machines, air conditioners and water heaters in its own plat by 2014. By veering its route away from outsourcing of these products, the company is aiming at six-fold jump in revenues to up to Rs 7,500 crore in the next five years.

Currently, the production of ACs and most of the washing machines models is outsources by the company, but now it will invest Rs. 100 crore to open its own lines to produce of these items and water heaters at its Rajangaon plant in Pune.

The plant at present manufactures refrigerators, while it imports all TV panels and water heaters from China.

“Our plan is to manufacture almost all our products in our own facility at Ranjangaon by 2014,” Haier India President (India Operations) Eric Braganza told PTI here at the ongoing Consumer Electronics Expo.

The move is part of the company’s strategy to increase revenues from India, which is expected to be Rs 1,250 crore by the end of 2012.

“Our target is to reach at least Rs 1,600 crore next year. In five years time, we are hoping to clock revenue of Rs 7,000-7,500 crore and become one of the top three players in the segments where we are present,” he added.

In 2011, the company had a turnover of Rs 972 crore. Elaborating on the company’s production plans, Braganza said: “We will set up assembly lines for ACs and water heaters and will expand the existing capacities of refrigerators. A total of around Rs 100 crore will be invested for this”.

At present, the plant has an installed capacity of 10 lakh units of refrigerators annually, which will be ramped up to 20 lakh units in the next two years at an investment of Rs 40 crore, he added.

The company is looking forward to produce 6.5 lakh units of refrigerators.

“By 2014, we are expecting to export 20 percent of all the items produced in India to various existing markets and new neighboring markets,” he said.

The company at present has 170 exclusive stores, apart from being retailed from 4,500 multi-brand outlets. It is increasing this to 250 exclusive outlets and 6,000 other outlets by 2013. It employs 1,300 people.