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Havells enters joint venture with Shanghai Yaming Lighting

6 January 2011 09.00 GMT


(India) - Havells India Ltd has announced a 50:50 Joint Venture with Shanghai Yaming Lighting Co. Ltd, a leading Chinese lighting company listed on Shanghai Stock Exchange.

Capitalising on the technical and manufacturing expertise of both companies, the Joint Venture will see $50million invested in a new manufacturing unit in Jiangsu Province, China which will be focused on the development of energy efficient and green lighting solutions including LEDs, CMI, HID and lighting fixtures.

Named as Jiangsu Havells Sylvania Lighting Co. Ltd, the Joint Venture aims to improve energy and cost efficient products for the local Chinese market, in addition to supplying global markets via the wider Havells Sylvania network. Both companies estimate that the new Joint Venture will lead to an annual turnover of $100million in the next 3 years.

The Havells Group, through its Havells Sylvania operations, has built a significant reputation within the lighting industry globally with a particular focus on the European market. As a result, Havells is confident that this agreement will allow the company to strengthen its product portfolio through consistent innovation, with quicker product releases in global markets courtesy of a reliable and stable supply source in China.

Nick Farraway, Head of Europe for Havells Sylvania said: “This is an important milestone for Havells Sylvania as we continue to build our lighting portfolio across Europe and beyond. By blending our technical and innovative expertise with best-in-class manufacturing practices, we’re confident that this joint venture will lead to a strengthening of our Chinese and Global operations”.

Mr. Jingwei Liu, Chairman of Yaming Lighting Co Ltd, added: “We are delighted to form this Joint Venture 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 achieving great strides and further strengthening of relations through this joint venture”.

www.havells-sylvania.com

 

Nick Farraway, Head of Europe for Havells Sylvania

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