Fuji Electric forms JV with Gemco

Q.  Which electric major formed a JV with Gemco controls on September 5, 2016?
- Published on 07 Sep 16

a. Fuji Electric
b. General Electric
c. Ever Ready
d. Sony

ANSWER: Fuji Electric
 
Fuji Electric forms JV with GemcoThe Japanese company formed a 51:49 JV with Gemco, a Faridabad based leading manufacturer of industrial automation and power control systems as part of the plan to expand business operations in India.
  • JV established a new entity in India Fuji Gemco which had investments from both companies
  • Fuji Electric has invested approximately USD 200 million to expand outside Japan business from 2013-2015
  • India is a significant market for the company
  • It is estimating that industrial power electronics market in India (including industrial infrastructure and power electronic devices) is set to grow at 9 percent between 2016 and 2018.
  • India will contribute to 30 percent of the overseas sales of the Asian markets by 2018
  • In FY 2014-2015, Fuji has overseas net sales of USD 2.17 billion and is expecting 27 percent rise to USD 2.81 billion by 2018

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