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."
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app