Havells
India Ltd, a US $1.2 billion enterprise and one of India’s fastest
growing electrical and power distribution equipment company, today, announced a
Joint Venture with Shanghai Yaming Lighting Co. Ltd, a leading lighting company
listed on Shanghai Stock Exchange in China.
The
50:50 JV would leverage upon technology and manufacturing strengths of its
partners, providing energy and cost efficient products for Global Sylvania and
local China markets. The JV named as Jiangsu Havells Sylvania Lighting Co. Ltd,
would entail an investment of USD 50 million and target an annual turnover of
USD 100 million in next 3 years. It would increasingly focus on launching
energy efficient and green lighting solutions including but not limited to
LEDs, CMI, HID and lighting fixtures.
Havells
Group through its global Sylvania operations has significant interest in
lighting industry. JV would facilitate constant innovation and quicker product
release in international markets including a co-owned, reliable and stable
supply source in China. The JV reiterates Havells philosophy to establish local
presence to cater growing consumer demand for quality products in China.
Speaking
on the occasion Mr. Qimat Rai Gupta, CMD, Havells India Limited, said, “This is an important milestone for
Havells and also for the entire Indian manufacturing industry. We are blending
latest technology with best-in-class manufacturing practices with this
combination of leading companies of China and India. We value Yaming
relationship and their experience in managing international JVs. We are
confident that this initiative will help Global Havells Sylvania operations
including our local operations in China”
Mr.
Jingwei Liu, Chairman, Yaming Lighting Co Ltd, added, “We are delighted to form JV with
Havells and are impressed with their global vision and growth plans. It is a
unique platform to showcase and integrate our strengths to provide energy
efficient solutions as are required in the current global environment. We look
forward to achieve great strides and further deepening of relationship through
this JV.
About Havells
Havells
India Ltd is a billion-dollar-plus organization, and is one of the largest
& India's fastest growing electrical consumer products manufacturer with
the widest products range from Industrial & Domestic Circuit Protection
Switchgear, Cables & Wires, Motors, Fans, Electrical Water Heaters, , CFL
Lamps, Luminaires and domestic appliances covering the entire gamut of
household, commercial and industrial electrical needs.
Havells
through its Sylvania subsidiary, manages a global lighting business across more
than 40 countries with some of the prestigious global brands like Sylvania,
Concord, and Luminance.
Havells
and its brands have emerged as the preferred choice of electrical products for
discerning individuals and industrial consumers both in India
and abroad.
About ShanghaiYaming Lighting CO
Shanghai
Yaming Lighting Co. Ltd was established in 1923 at Shanghai in China for making
incandescent lamps. They were the first producer of lamps in China. Over the
years it has grown multifold and started manufacturing all kind of lamps like
GLS / FTL / HID etc. They also started manufacturing Lighting Fixtures.
During the last 20years they established few joint ventures in China with
leading light companies across the globe like Philips, Belgium / Venture
Lighting, USA / Yasuhiro (CERA), Japan / Everlight, Taiwan.
Its
holding company FeiloAccoustics Co. Ltd. is listed on Shanghai stock exchange
with market cap of circa US$ 750 million.
Sourced From: Mutual PR
