Dixon enters in JV agreement with Rexxam to manufacture Printed Circuit Boards for Air-Conditioners

13 Jan 2022 , 04:06 PM

Dixon Technologies (India) announced that it has entered into Joint Venture Agreement (JV Agreement) with Rexxam (Rexxam). According to the said JV Agreement, Dixon Devices (JV Company) will be 40% owned by Dixon and 60% owned by Rexxam.

The JV Company has received approval under the PLI scheme of the Government of India under the White Goods category and following the same, it will undertake manufacturing of Printed Circuit Boards for Air-Conditioners (PCBA) for the domestic and international market.

Atul B. Lall, Vice Chairman & Managing Director, stated that “We are immensely grateful by the trust that Rexxam has bestowed on Dixon for this collaboration. Through this partnership, we are taking a leap in our long standing relationship of 7 years with Rexxam.”

“The JV Company will cater to customers of Rexxam for both domestic and export markets. With Dixon’s excellent record of manufacturing and Rexxam taking the lead in marketing and sales, we are positive that this partnership will be well positioned and a key player in this space and shall be a contributor in strengthening India’s electronics manufacturing sector as well as towards Indian government’s vision of an Atmanirbhar Bharat,” Lall added.

On Sensex, Dixon closed at Rs5269.30 per piece flat compared to the previous closing.