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Haier and Voltas Ltd Enter Joint Venture Talks
Apr 14, 2003
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Haier has initiated talks with the Tata Group company Voltas Ltd for entering into a possible ‘manufacturing only’ joint venture for air-conditioners and refrigerators in India. Under the terms of this joint venture, the products would be sold under the Haier brand name and the company would set up its own distribution network across India. According to sources, Haier may be interested in this joint venture because the cost of manufacturing air-conditioners and refrigerators is much lower in India than in China. So, while the joint venture would be cost effective for Haier, the companies are merely discussing a partnership and nothing has been finalized. (Hoovers)

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