Salzer Electronics mega deal talk

With reference to the news item appearing in a leading financial daily titled "Salzer Electronics gains on mega deal talk", Salzer Electronics Ltd has clarified as under:

The Company is manufacturing switches and switch gear and allied products and is having a full fledged R & D wing to consistently do the research and development work in the improvement of process specifications of its products and its utilities, besides development of new products with innovative design and features to meet the requirements of customers and ensure their complete satisfaction. In this process the Company has developed an Energy saving system far saving of consumptions of electricity power, which is one of the very vital factors for the overall economic and industrial development of our nation. With its efforts and persuasion, the Company has secured an order from Madurai Municipal Corporation and Implemented the project in the North Zone of Madurai Municipal Corporation by installing 375 Energy Saving equipments at a project cost of Rs 190.00 lakhs and which is giving a saving of Energy consumption to the extent of 30% to the Corporation.

Based on the successful implementation of the Energy Saver project in Madurai Municipal Corporation the Company has been negotiating with all potential customers and corporations in India for this product and the Chennal Corporation has given a trial order for this system to the extent of Rs 35 lakhs.

In its efforts, in implementing this Energy Saver project in our Country, the Company has been contemplating and negotiating with all the potential customers including the corporations of Ahmedabad, Jaipur and Rajkot as reported in the news item and the Company is contemplating to familiarize this product in the domestic end international markets in the next 3-5 years down the line. It is the fact that if the Company could able to succeed in these efforts, the turn over out of this product line is expected to the order of Rs 30-40 crores n the next 3-5 years down the line end accordingly, the Company's top line will increase substantially.