Fuji Electric expand its business operations in India
September 15, 2016: Japanese electric & thermal energy major Fuji Electric Co., Ltd. has entered into a Joint Venture with Gemco Controls Limited (Gemco), one of the leading manufacturers of Industrial Automation and Power Control Systems in India. The new identity under the joint venture, Fuji Gemco Pvt. Ltd will have a 51 per cent stake from Fuji Electric. The JV has been established by the company with the aim of expanding its business operations in India. Fuji Electric invested approximately US$ 200mn to expand outside Japan business from 2013 to 2015 wherein one of the investments is Fuji Gemco.
Fuji Electric India has a Drive Factory & Competency Center in Bhiwandi, which was established in June 2016. Moving forward, the company is looking at metal, mining and mineral sector as well as equipment manufacturers like cranes, press processors, and more. The plan is to increase company sales in the form of its current level.