Signify, a lighting solutions provider, and Dixon Technologies, a diversified manufacturing company, have announced plans to establish a joint venture aimed at manufacturing lighting products and accessories in India. The proposed entity, subject to regulatory approvals, will produce a range of lighting products for various brands in the Indian market. Both companies will hold equal ownership in the venture with a 50:50 equity structure.
The joint venture is expected to manufacture products such as LED bulbs, downlights, spotlights, battens, ropes, strips, and LED lighting accessories. The collaboration intends to leverage Signify’s expertise in lighting technologies alongside Dixon’s experience in electronics manufacturing to offer a wide product portfolio at competitive costs.
“The proposed joint venture with Dixon Technologies will create a world-class manufacturing company that combines the technology leadership, pricing, and offerings to the customers,” said Sumit Joshi, CEO of Signify Innovations India Ltd.
“We believe this proposed association will bolster our operational efficiency backed by Signify’s process orientation and strong understanding of lighting technologies,” said Atul B Lall, Vice Chairman and Managing Director of Dixon Technologies India Ltd.
Dixon Technologies (India) Limited is a design-focused manufacturing company engaged in producing consumer electronics, lighting products, home appliances, mobile phones, and IT hardware. Its services also include reverse logistics such as repair and refurbishment of LED TV panels.