Havells’ China joint venture to make green lighting goods
December 26th, 2011 - 8:07 pm ICT by IANSMumbai, Dec 26 (IANS) Havells India Monday said it has entered into a joint venture with China-based Shanghai Yaming Lighting to produce energy efficient and green lighting goods for global markets.
This 50:50 venture, called Jiangsu Havells Sylvania Lighting Co, will initially invest $50 million, with the possibility of raising this to $100 million over three years, Havells India said in a regulatory filing.
“The joint venture would facilitate constant innovation and quicker product release in international market, including a co-owned, stable supply source in China,” the electrical equipment maker said.
Havells, which now exports products to China, was looking for a joint venture partner in China to boost sales and set up a manufacturing facility. It has a significant presence in the international lighting industry with its subsidiary SLI Sylvania of Germany.
– Indo-Asian News Service
mridhula/srj/vt
- Ranbaxy settles issue with US health regulator - Dec 21, 2011
- General Motors showcases two new vehicles - Jan 06, 2012
- Zydus Cadila buys out Biochem - Dec 21, 2011
- Sterlite Technologies plans Chinese JV to produce optical fibre - Nov 17, 2010
- Russian firm opens petroleum terminal in Spain - Apr 28, 2012
- French dairy major Danone forays into Bangalore market - Jul 06, 2011
- Reliance Broadcast signs pact with European firm for TV channels - May 30, 2011
- Lakshmi Machine Works to expand Chinese operations - Apr 12, 2012
- Lakshmi Machine Works to expand Chinese operations (Lead) - Apr 12, 2012
- Kingdom of Dreams to open at 10 destinations in China - Dec 06, 2010
- Tata Steel hopes to save Rs.100 using Dhamra port - Jan 18, 2011
- NourishCo hopes for Rs.700 crore business - Feb 10, 2012
- Yakult Danone expands to south India - Feb 17, 2012
- Bitter cold may destroy 50 percent of Russia's vineyards - Feb 13, 2012
- Etisalat writes off $827 mn, evaluates India options - Feb 09, 2012
Tags: 100 million, 50 million, asian news, electrical equipment, global markets, havells india, indo, international lighting, jiangsu, joint venture, lighting co, lighting goods, lighting industry, news service, shanghai, srj, stable supply, supply source, sylvania lighting, venture partner