Havells India Ltd recently
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, Havells said in a statement.
Named Jiangsu Havells Sylvania
Lighting Co. Ltd, the joint venture
would entail an investment of $50
million and target an annual turnover of
$100 million in next three 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. The 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.