Business Daily from THE HINDU group of publications
Thursday, Jun 28, 2007
ePaper
Business Daily from THE HINDU group of publications Thursday, Jun 28, 2007 ePaper |
|
|
|
|
|
|
|
Marketing
-
Channels and Franchises Corporate - Alliances & Joint Ventures Caryaire ties up with US-based Tomkins Group cos
Our Bureau New Delhi, June 27 Air distribution and management firm Caryaire Equipments Pvt Ltd has formed a 50:50 joint venture with the US-based Tomkins Group companies, Titus and Ruskin, to manufacture and market air system components in the country. The new entity, Caryaire Air Systems Components Pvt Ltd, will manufacture and market air components such as air distribution products, sound control products for air conditioners and fire and smoke control products for ACs to institutions under the Titus and Ruskin brand name in India. “Though we were already present in most of the following categories ourselves, this tie up with the Tomkins Group gives us the edge in terms of more advanced technology and designs,” said Mr Anil Maheshwari, Managing Director, Caryaire Equipments Pvt Ltd. The Indian company already has a manufacturing facility in Delhi NCR, but with increasing size of business the new entity’s products will be manufactured from a new, bigger facility at the same place. “We are in the process of setting up a new and bigger facility in Noida that will cater to the new company’s needs. The total built-up area of the new plant is approximately 60,000 sq ft, which is double the size of our previous facility,” said Mr Shami Bhardwaj, Director, Caryaire Air Systems Components Pvt Ltd. The company will be pumping in around $2 million into the business over the next two years, and hopes to garner revenues of around Rs 50 crore within the first two years. While Caryaire Equipments is a Rs 125-crore company, the Tomkins Group clocked a turnover of $ 5.7 billion last fiscal.
More Stories on : Channels and Franchises | Alliances & Joint Ventures | Air-conditioners & Refrigerators
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2007, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|