Schmitz Cargobull AG is set to acquire a 27.5 percent equity stake in Pune-based Sub Zero Insulation Technologies (SZIT) as part of a plan to expand its presence in India’s cold chain logistics sector. The agreement also provides Schmitz Cargobull with an option to increase its shareholding in the future.
Sub Zero manufactures more than 1,500 insulated and refrigerated truck bodies annually and supplies to original equipment manufacturers including Tata Motors, Mahindra, Ashok Leyland, Volvo Eicher, Isuzu and Bharat Benz. The company employs around 120 people and produces approximately 1,200 bodies per year at its Pune facility.
“This partnership represents a pivotal moment for Sub Zero and for India’s cold chain ecosystem. With Schmitz Cargobull as our partners, we are entering a new era of quality, technology, and international standards,” said Deep Khira, Founder and CEO of Sub Zero.
Key areas of collaboration will include the modernisation of Sub Zero’s Pune plant, introduction of Schmitz Cargobull technologies such as insulated panels and trailer telematics, training programmes between Indian and German teams, and the export of modular kits for refrigerated and dry freight applications.
“By combining Schmitz Cargobull’s engineering expertise with Sub Zero’s market reach, we aim to deliver high-quality, efficient transport solutions across India and beyond,” said Andreas Schmitz, CEO of Schmitz Cargobull AG.
The investment forms part of Schmitz Cargobull’s strategy to expand in emerging markets and support the development of locally adapted transport infrastructure.
Founded in 2015 and based in Pune, Sub Zero Insulation Technologies manufactures refrigerated and dry freight truck bodies. The company builds on the Khira family’s legacy in vehicle body building, which dates back to 1949. It employs around 120 people and produces about 1,200 units annually.
