TOKYO—Toshiba Corporation: Toshiba announced that it has signed a memorandum of understanding (MOU) with Bharat Heavy Electricals Limited (BHEL). By which, an establishment of a joint venture company in the transmission and distribution (T&D) equipment business will take place.
The Indian T&D business market is expected to see annual demand growth of over 10% in coming years. And by the signed MOU, Toshiba and BHEL, India's largest T&D equipment and system manufacturer, will start a company in India for manufacture of T&D equipment and systems in India plus sales and marketing in India and overseas.
Toshiba aims to establish a global T&D business especially in developing countries showing further growth. Toshiba already has manufacturing systems in several countries including China and Brazil.
About Toshiba corporation:
A world leader in high technology, including manufacturing and marketing of advanced electronic and electrical products, information & communications equipment and systems. For more information, visit http://www.toshiba.co.jp/index.htm
About Bharat Heavy Electricals Limited:
Established in1964 in New Delhi, India. The company is responsible for manufacture and sales marketing for transformers, insulated switchgears and generators. It is the largest T&D equipment and system manufacturer in India