Zhejiang Sunshine announced that the company recently signed a joint venture agreement with VPElectromech Private Limited of India and decided to establish Energetic Lighting (India) Private Limited, a joint venture company mainly engaged in the production and sales of compact fluorescent lamps (energy-saving lamps) in the New Delhi area of ​​India. Zhejiang Sunshine invested 80 million rupees (about 2 million US dollars), accounting for 50% of the equity of the joint venture company.
Zhejiang Sunshine said that the Indian partner VPE was established in December 2001 and is mainly engaged in industrial investment and real estate investment. After the joint venture company is put into production, it plans to produce 4 million energy-saving lamps per year and realize sales of 35-400 million yuan; it is not expected to have an impact on the operation this year. Zhejiang Sunshine will use this cooperation opportunity to continuously track changes in the Indian market, use the advantages of India's domestic sales to expand market share, and continue to meet market demand with new product development.
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