Indian lighting products manufacturer Havells India Ltd. has announced that it has reached an agreement with Shanghai Yaming Bulb Factory Co., Ltd., the two parties will set up a joint venture in China, Jiangsu Havells Sylvania Lighting Co., each holding 50% of the shares.
It is reported that the joint venture will invest about 50 million US dollars to establish a lighting production plant in China. Havels Managing Director Anil Gupta expects the joint venture's annual sales to reach around $100 million over the next three years.
It is reported that the joint venture will invest about 50 million US dollars to establish a lighting production plant in China. Havels Managing Director Anil Gupta expects the joint venture's annual sales to reach around $100 million over the next three years.
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