Indian electronics company Dixon Technologies has entered into a Memorandum of Under with Japanese company Rexxam to form a joint venture.
The joint venture company will undertake manufacturing of PCB for Air-Conditioners for domestic and international market. According to the current plant Rexxam will own 60% of the JV and 40% will be owned by Dixon.
“We share a long standing relationship with Rexxam as we have been manufacturing AC-PCBs for their Indian partner for more than 7 years. We are confident that our relationship with Rexxam will further deepen its roots with this strategic partnership. Under this JV, we will not only be serving to Indian customers of Rexxam but shall also be serving International Clients. We highly anticipate that a significant part of revenue under the JV Company will come from exports,” says Mr Atul B. Lall, Vice Chairman & Managing Director, Dixon Technologies in a press release.
“We are extremely confident that this venture will be well positioned and shall be a contributor in strengthening India’s electronics manufacturing sector as well as towards Indian government’s vision of an Atmanirbhar Bharat,” Mr Atul B. Lall continues.