Voltas, an Indian engineering and air-conditioning company, has struck an outsourcing deal with Samsung Electronics India. Samsung will outsource direct-cool refrigerators from Voltas as and sell them under the Samsung brand in India. An LG Electronics pact with Voltas comes to an end next year, and LG is planning to manufacture direct-cool refrigerators on its own.
Voltas also announced that it is planning a fresh round of voluntary retirement. Around 600 surplus workers are expected to be cut, Ashok Soni, managing director, said. (Business Standard)
to Daily News