Subros Ltd acquires assets in AC maker Zamil

Subros Ltd, a leading manufacturer of thermal products for automotive applications in India, said it has executed a ‘definitive agreement’ worth Rs 11.15 cr for the purchase of certain assets of air conditioner maker Zamil Air Conditioners Private Ltd.

Established in 1985 as a joint venture with Suri family of India, Denso Corporation & Suzuki Motor Corporation, Subros Ltd is one among the leading manufacturers of thermal products for automotive applications in India.

On March 28, Subros had signed a Memorandum of Understanding with Zamil to acquire its certain assets related to air conditioning systems.

“Through this initiative, Subros will create a capacity of 5 lakh units per year and also expand its supply of home air conditioning units”, Subros said.

Subros has an order book of Rs 900 million from OEM customers for the supply of home air conditioning units. OEM customers refers to the manufacturers who resell another company’s product under their own name and branding.

The orders will be executed through the manufacturing factories at Nalagarh in Solan, Himachal Pradesh, Subros said.

Zamil Air conditioners Pvt Ltd is a wholly owned subsidiary of Zamil Industrial Investment Company, Saudi Arabia. The company began its full-fledged foray in Indian air conditioner industry in 2013.

Subros is the only integrated manufacturing unit in India for Auto Air Conditioning systems and Thermal Products.

Subros Ltd manufactures compressors, condensers, heat exchangers and all connecting elements complete AC loop and caters to all segments including passenger vehicles, buses, trucks, refrigeration, transport and railways.