UTTAR PRADESH, INDIA – Dixon Technologies and Rexxam are forming a joint venture to produce printed circuit boards for air conditioners, according to reports.

Sixty percent of the joint company will be owned by Rexxam, and 40% will be owned by Dixon.

“We share a longstanding relationship with Rexxam, as we have been manufacturing AC-PCBs for their Indian partner for more than seven years,” said Atul B. Lall, vice chairman and managing director, Dixon. “We are confident our relationship with Rexxam will further deepen its roots with this strategic partnership.

"Under this JV, we will not only be serving to Indian customers of Rexxam but shall also be serving international clients. We highly anticipate a significant part of revenue under the JV Company will come from exports."

Dixon plans to file applications with the Department for Promotion of Industry and Internal Trade or other relevant agency to receive benefits under the PLI Scheme of Government of India.

No financial terms were disclosed.

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