Wisconsin-based Johnson Controls and Hitachi Airconditioning India Ltd., will develop and manufacture air-conditioners in its plant near Ahmedabad, Gujarat, for sale in the Middle-East and Southeast Asia.
Global CEO Franz Cerwinka said, “We also want to expand our manufacturing to export out of India. The Indian operations contribute 12 percent to our global revenue. India has the potential to become one of the top three markets for the company since there is a lot of pent-up demand which will be generated in the mid-to-long term.”
Johnson Controls-Hitachi Air Conditioning India reported that in 2016 sales grew 20 percent to $301 million from the previous year. Profit climbed 62 percent to $12.4 million (Rs 81crore.) the Economic Times reports.