Dixon Tech. to Form JV with Signify for Manufacturing Lighting Products
Dixon Technologies (India) Ltd. has signed an agreement to form 50-50 JV with Signify Innovationas India Ltd. for manufacturing lighting products in India.
Dixon Technologies – Signify Innovations India JV will manufacture lighting products and accessories for leading brands in the Indian market. This JV will also manufacture lighting products for Signify which include LED lamps & tubes, track lighting, decorative lighting products, and floodlights.
Dixon will acquire a 50% stake in the upcoming joint venture (JV) by transferring its lighting business to the JV. This transfer will include Dixon’s entire shareholding in Dixon Technologies Solutions Pvt. Ltd. (DTSPL), a wholly owned subsidiary of Dixon.
Commenting on this partnership, Mr. Sumit Joshi, MD and CEO, Signify Innovations India, said “With Signify’s unparalleled understanding of lighting technologies and Dixon’s manufacturing excellence, this joint venture will manufacture high-quality competitive lighting products in India”.
Mr. Atul B. Lall, Vice Chairman and Managing Director of Dixon, said “It gives us immense pleasure to partner with Signify India, the leader in the lighting segment. We see them as an ideal strategic partner that shares our core values of quality, innovation, manufacturing prowess, and customer centricity”.
