The Hindu Business Line : Eureka Forbes, Swiss co Lux form jt venture

The joint venture, to be called EuroLux International, will have equity participation from both the participants in a 50:50 ratio, and will be headquartered in Zug, Switzerland.

According to the company, the joint venture activities will focus on market expansion as well as product development and will aim to open new markets in the West Asia, South Africa, Russia, and Latin America using the direct sales channel. This new joint venture company would also set up an Advanced Sales Management Institute of international standards in India and an international call centre operating out of India catering to the needs of all the customers.

Announcing the joint venture, Mr Suresh L. Goklaney, Managing Director, Eureka Forbes, said, "Both partners share a common goal of understanding the consumers, bringing to them high quality solutions, developing relationships and databases, and above all, nurturing our brands and our employees. With this joint venture we aim to further expand direct sales business into new markets around the world and further strengthen the already strong and trusted partnership between both the companies."

Lux International AG, was earlier a part of Electrolux Sweden. At present, Lux International operates in 24 countries around the world, has a sales force of over 3,000 salesmen and generates a sales volume of over $180 million. Its products include vacuum cleaner systems, steam cleaner systems, air purifiers, kitchen machines as well as water purifiers.

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