Financial Daily from THE HINDU group of publications
Tuesday, Sep 27, 2005

Port Info

Group Sites

Corporate - Alliances & Joint Ventures

Indo Asian Fusegear in joint venture with Nordex of Italy

Our Bureau

New Delhi , Sept. 26

INDO Asian Fusegear Ltd has signed a joint venture with Nordex Lighting of Italy in which the former would own 60 per cent of the equity. The new entity, Indo Nordex, would deal in specialised the outdoor lighting equipment category.

Indo Nordex would introduce a range of products including weather and dust-proof lighting fittings, specifically for industrial uses. It will shortly set up a manufacturing facility at Uttaranchal for outdoor lighting fittings for the domestic and overseas markets.

"Our decision to enter the outdoor lighting fitting segment was driven by two factors. First, Indo Asian is among the top three players in the domestic CFL market today and entering this category would perfectly complement our lighting solutions business. Second, Indo Asian is going to derive immense benefits as this category offers huge growth opportunities," said, Mr VP Mahendru, Chairman and Managing Director, Indo Asian Fusegear Ltd.

The new plant is being set up in the tax free zone of Uttaranchal at Haridwar. The plant's machinery and equipment will be imported from Italy. It will have a capacity of 1,000 luminaries per day. These lighting fittings are most suitable for lighting poles on highways, street lighting and rural areas throughout the country.

The joint venture will leverage the marketing and distribution networks of both the companies in India, Middle East, Europe, South Africa and Indonesia for marketing its products.

Founded in 1958, Indo Asian manufactures electrical control and protection equipments. It exports its products to countries like Malaysia, New Zealand, Australia, and Russia among others.

Established in 1973, Nordex Lighting provides lighting solutions with operations in 77 countries including Europe, the Middle East and Indonesia.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Tata Safari Dicor

Stories in this Section
GAIL enters octene-based LLDPE market

ONGC to continue giving interest-free loans to OVL
Hyundai, Maruti set to hike prices
Gujarat NRE Coke's Australian mine starts production
Elgi Equipments bags 2 orders
Shanthi Gears to float FCCB to fund expansion plans
Redefining management in the knowledge era
Visaka Ind gets eco clearance for cement sheets project
Enaleni move to buy Cipla Medpro — Drug supply to South Africa, its neighbours will not be hit: Cipla
Vashisti shareholders okay merger with HLL
Matrix to acquire 60 pc in China's Mchem — Inks share purchase agreement
India Cements to hike stake in Visaka Cement
Coal India chief for expediting approval for new projects
AAIFR to hear Dunlop revival scheme on Oct 4
Indo Asian Fusegear in joint venture with Nordex of Italy
IOC chief on World LPGas board

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line