New Delhi, Apr 23 (PTI) Auto component major Samvardhana Motherson Group (SMG) today announced a joint venture between Matsui Technologies India and Frigel for cooling solutions targeting various industries in the country.
The 50:50 joint venture (JV) named Frigel Intelligent Cooling Systems India Pvt Ltd will enable both partners to significantly enhance quality of their current offerings, the company said in a statement.
Matsui Technologies India Ltd (MTIL) is a joint venture of Matsui Japan and SMG.
Italy-headquartered Frigel is a global leader in intelligent cooling solutions offering a wide range of systems made of a variety of parts such as the ecodry adiabatic liquid cooler, microgel, heavygel and multistage chillers and chiller/temperature control units, among others.
Commenting on the new JV, SMG Chairman Vivek Chaand Sehgal said:"We have always endeavoured to bring the best of global technologies to our customers in India and globally. We are happy to see our JV partner MTIL grow and expand even further."
Frigel CEO Duccio Dorin said forming of the JV is an important step for the Frigels global strategic plan.
"We believe that the rapidly growing need among processors in India for more advanced technologies to process cooling and the strength and high reputation of our partners are the perfect mix to make this a successful venture," Dorin added.
Matsui Manufacturing Co President & CEO Hironobu Matsui said the JV provides MTIL with increased opportunities to offer complete solutions of material handling and cooling to processors throughout India.
Under the new JV, Frigel will manufacture its line of Ecodry 3DK line of fluid coolers and Microgel RCS water-cooled chillers/TCUs in India.
"Operations will take place at a facility in Noida, Uttar Pradesh," the statement said.
Frigel India will also supply other advanced and eco-friendly technologies of Frigel to the Indian marketplace, including Heavygel centralised high capacity and high efficiency water chillers units and the synchronised cooling system for beverage production, it added. PTI RKL RKL ANU ANU