Auto component major Samvardhana Motherson Group (SMG) today announced a joint venture between Matsui Technologies India and Frigel for cooling solutions targeting various industries in the country.
The 50:50 joint venture (JV) named Frigel Intelligent Cooling Systems India Pvt Ltd will enable both partners to significantly enhance quality of their current offerings, the company said in a statement.
Matsui Technologies India Ltd (MTIL) is a joint venture of Matsui Japan and SMG.
Italy-headquartered Frigel is a global leader in intelligent cooling solutions offering a wide range of systems made of a variety of parts such as the ecodry adiabatic liquid cooler, microgel, heavygel and multistage chillers and chiller/temperature control units, among others.
Commenting on the new JV, SMG Chairman Vivek Chaand Sehgal said:"We have always endeavoured to bring the best of global technologies to our customers in India and globally. We are happy to see our JV partner MTIL grow and expand even further."
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