Subros Ltd enters into MOU with ZAMIL
Deepthi | Myequity news | Date : 28-03-2019 14:30:00 IST
To add product range of Indoor Unit, Outdoor Unit and Window AC Units for realizing the growth potential faster, Subros Ltd has entered into a Memorandum of Understanding with Zamil Air Conditioners India Pvt Ltd (ZAMIL) to acquire ZAMIL’s certain assets relating to manufacture of Home Air conditioning systems. Subros Ltd is in the process to enter into definitive agreements in this regard. Through this initiative, Subros Ltd will create capacity of 500,000 units per year and also expand its supply of Home Air Conditioning units to various OEM’s. The transaction is subject to customary closing events and is expected to be completed during April, 2019.
Subros Limited founded in 1985 as a joint venture with Suri family of India, Denso Corporation & Suzuki Motor Corporation, Japan; is the leading manufacturer of thermal products for automotive applications in India, in technical collaboration with Denso Corporation, Japan. The Company is the only integrated manufacturing unit in India for Auto Air Conditioning systems and Thermal Products. Subros Ltd manufactures compressors, condensers, heat exchangers and all connecting elements required to complete AC loop and caters to all segments viz. Passenger Vehicles, Buses, Trucks, Refrigeration Transport and Railways.