Local electronics manufacturer Walton is all set to export refrigerators and air-conditioners to India.
According to a deal signed on Monday, Walton as an original equipment manufacturer will supply 1 lakh units of refrigerators and 20,000 residential air-conditioners to Hyundai Electronics.
Hyundai will import the products through its partner Goldenarch Consumer Electronics Pvt Ltd.
Edward Kim, president for international business unit of Walton Group, and Abhishek Malpani, director of Hyundai Electronics India, inked the deal at Walton Hi-Tech Industries in Gazipur.
SM Ashraful Alam, managing director of Walton Hi-Tech Industries, and SM Mahbubul Alam, a director, were present at the signing ceremony.
“Bangladesh is going to set a new milestone by exporting electronic products. Within a very short time Walton will make Bangladesh one of the largest consumer electronic goods exporters,” Alam said in a statement.
“We have strong determination and detailed master plan to be recognised as the most reliable business partner of many global brands.”
“I am confident about our product quality and technology leadership as we are continuously investing and ready to invest more for Walton to secure global leadership in terms of technologies, quality as well as design,” he added.
EM Yang, chief technical officer of Walton, said Walton’s products are being manufactured using the world’s most advanced technologies and machinery and quality is strictly maintained in every step of production.
“As a result, Walton is ready to deliver reliable products according to the consumers’ demand in the international market.”
Kim said: “We are very happy to have such a remarkable brand like Hyundai as our sustainable business partner. We will do our best to satisfy our business partners with our differentiated product design and quality.”
Hyundai officials visited various production units of Walton, including refrigerator, compressor, glass-door and ACs.
In July, Walton started exporting ACs to Yemen, a Middle Eastern country. The company has been exporting refrigerators to Yemen for the last couple of years, news agency UNB reported recently.
The company has set a target to earn $1 billion from exports of electronics and electrical appliances by 2028.