Dixon and Rexxam will form a joint venture that will undertake manufacturing of PCBs for air-conditioners.
Dixon Technologies (India) Ltd has entered into Memorandum of Understanding (MOU) with Rexxam Co. Ltd to form a joint venture (JV) that will undertake manufacturing of printed circuit boards (PCBs) for air-conditioners for domestic and international markets. The JV also proposes to file necessary applications with Department for Promotion of Industry and Internal Trade (DPIIT) or any other nodal agency to avail benefits under the PLI Scheme of Government of India.
Post execution of mutually acceptable agreements by the parties, the JV company will be 60% owned by Rexxam and 40% 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 seven years. We are confident that our relationship with Rexxam will further deepen its roots with this strategic partnership,” said Atul B. Lall, Vice Chairman and Managing Director, Dixon Technologies. “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. 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.”