Havells India signs pact with Hyundai Electric South Korea
DSIJ Intelligence / 14 Nov 2017
Havells India, has signed a MoU with South Korea-based Hyundai Electric & Energy Systems Company to mutually explore and supply low and medium voltage protection and switching devices.
Fast moving electrical goods company, Havells India, has signed a Memorandum of Understanding with South Korea-based Hyundai Electric & Energy Systems Company to mutually explore and supply low and medium voltage protection and switching devices.
According to the terms of the agreement, Hyundai Electric will supply voltage protection and switching devices to Havells as brand labelling. Hyundai Electric will also grant license to manufacture and transfer tech for low‐capacity Magnetic Contactors (MC) and Molded Case Circuit Breakers (MCCBs) to Havells. While Havells will supply equipment such as Miniature Circuit Breakers (MCBs) & MC to Hyundai Electric. The companies will explore ways for localization and customization of their products.
Following the announcement, the stock of Havells was trading higher by 0.41%, at Rs. 513.80 per share on BSE at 11:15 hours on Tuesday.
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