Cartridge World may set up R&D unit in Mumbai
Nov,
2007,KOLKATA: Australia-based Cartridge World, refillers of used
printer cartridges, has decided to set up its Asian R&D hub in
India. The $350-million company will use the local facility to research
into the latest refilling processes and technology to suit the
requirements of new-age printers and cartridges.The R&D hub is
likely to come up in Mumbai. “We want to utilise the huge pool of
technical manpower in India. Hence, we have decided to set up the Asian
R&D facility in India. We are reviewing the investment plan for
this centre,” Cartridge World managing director (APAC, Middle East
& South Africa) Mike Fuller said.Cartridge World is one of the
world’s largest retailer of cartridge refilling and recycling services
and operates through a global network of 1,572 stores under the
franchisee model. The company currently has global R&D centres in
Australia, the US, Germany and the UK.
“OEM players like
Hewlett-Packard launch a new printer and cartridge every week. We need
to customise our technology accordingly to effectively refill those
cartridges. The Indian R&D centre will focus on development of such
specific processes for the company,” said Mr Fuller.The company
operates 13 stores across India and intends to launch 50 more by March
2008. “By 2010, we plan to have a network of 250 stores in India to
corner around 7-8% market share. The Indian revenues should be in
excess of Rs 350 crore,” said Cartridge World CEO (South Asia) Naveen
Rakhecha.The domestic cartridge market is currently estimated at about
Rs 2,500 crore, growing at 30% annually. In India, OEMs control about
60% of the cartridge market with some 15% by the unorganised refillers.