Westinghouse Lighting sets up partnership with Asian Electronics
08 Dec 2005
The US-based Westinghouse Lighting Corporation has entered in to a joint venture with Asian Electronics Ltd (AEL) to increase its sourcing of lighting products from India. Westinghouse Lighting Corporation is a renowned global brand manufacturing and marketing lighting products.
AEL manufactures LTMPP capacitors and has developed LT switched capacitor systems and automatic load monitoring systems (ALMS) for reducing transmission and distribution losses. The JV between the two companies will help AEL in its lighting products business.
AEL
will be able to leverage the Westinghouse brand for its
exports to the US and European markets, and also launch
the Westinghouse range of premium lighting products, fans
and accessories in the Indian market. The total market
for lighting products alone in India is estimated at Rs40
billion of which around 75 per cent is accounted for by
the organised sector.
Already, Asian Electronics manufactures a range of Westinghouse-brand products, and the two companies share the profits from the marketing of the Westinghouse range manufactured by AEL for the US markets, in Europe the two have formed a company for jointly selling these products.
Currently China is the main sourcing point for WLC. Westinghouse sources products worth over $150 million from China annually. However, the US company is exploring vendors in India who would in a position to supply better product quality at competitive rates. In the next two to three years, its sourcing from India is expected to be between 25 and 40 per cent of its overseas sourcing.
According to Suresh Shah said, chairman, AEL, "The association with Westinghouse will enable us to leverage the brand name for launching and marketing a range of premium energy efficient lighting products and accessories in India and abroad. There is tremendous synergy among the two companies and this will be a formidable combination to tap emerging opportunities in the lighting market."
Asian Electronics Ltd. has an international partnership with Switzerland-based Global Energy Management, which has exclusive marketing and sales rights for the Retrolux product range in Europe.