Desmon and Continental Equipment form JV

Continental Equipment India has forged a Joint Venture (JV) with world renowned refrigeration equipment manufacturers, Desmon, to manufacture hospitality refrigeration equipments in India. The joint venture,Desmon Continental, has set up a huge manufacturing facility at Chopanki in Rajasthan and is about to start production.

Informing this, R Kumar, Chairman, Desmon Continental said that the unit would start production from March 2009. "This is the first joint venture in the hospitality equipment sector in India in the real sense, where we, Continental Equipment, the Indian partner, has equity participation," he said.

Although technical joint ventures are common in the country, this is the first JV where the Indian partner has equity stake, he stated. Desmon, an Italian refrigeration equipment manufacturer, is the leader in this segment in the world today, he informed. Kumar added that the unit would manufacture hospitality kitchen refrigerators both for the domestic market as well as for overseas markets. "We have started getting orders already," he said. Kumar added that AAHAR at New Delhi next month would be the first major platform for the JV.

Source: http://www.hospitalitybizindia.com/