Pune: Aurangabad-based Dhoot Transmission has entered into a Joint Venture (JV) agreement with Connecticut-based Carling Technologies, Inc. for the manufacture and sale of electro-mechanical and electronic switches in India. The new Joint Venture Company, whose name is yet to be determined, will be based in Aurangabad. Products manufactured by the Joint Venture will cater to the vastly growing Indian 2 Wheeler, 3Wheeler, Commercial Vehicle, Agricultural & Construction Equipment’s market and will also be exported overseas through Carling Technologies’ distribution network.
“We are extremely happy to partner with Dhoot Transmission and consolidate our operational footprint in India. Our partnership with Dhoot will help us to gain insights into the market dynamics of the Indian auto industry, and localizing our manufacturing capacities will enable us to supply products at affordable price points,” stated Christopher Sorenson, Executive Vice President of Carling Technologies.
Singhi Advisors, a Mumbai-based global investment banking firm, acted as an internal advisor for Dhoot Transmission.
“We are glad to associate with a partner like Carling Technologies which is a globally recognized brand and company that shares our business vision. The JV agreement will enable us to diversify into untapped markets and enable us to leverage the technological competencies of Carling to expand our product offerings,” stated Rahul Dhoot, Managing Director, Dhoot Transmission.
The Joint Venture is anticipated to begin operations during the first half of 2018
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