Voltas ties up with Denmark's Vestfrost Solutions to develop, sell medical refrigeration vaccine storage equipment

15 Nov 2022 , 09:16 AM

Voltas Limited, a Tata Enterprise and Vestfrost Solutions has entered into a Technology License Agreement to develop, manufacture, sell and service medical refrigeration and vaccine storage equipment including Ice lined Refrigerators, Vaccine Freezers and Ultra low temperature Freezers to the India market.

Vestfrost Solutions founded in Esbjerg Denmark in 1963, is one of the global developers and manufacturers of innovative and efficient refrigerators and freezers in the Bio Medical and Cold Chain industry and shall be providing the technology & know-how for making the products at Voltas’ facilities in India.

This collaboration will leverage the strong brand presence and wide sales and distribution network of Voltas. Voltas has been the undisputed market leader for residential air-conditioners in India for over a decade and also enjoys market leadership in Commercial Refrigeration products in India.

Vestfrost Solutions will bring its strong R&D and manufacturing prowess, in addition to a wide product range and global sourcing capabilities. These products will be designed using Vestfrost’s global best practices and will be catering to the medical industry requirements.

Commenting on the partnership, Mr. Pradeep Bakshi, MD & CEO, Voltas Limited said, “This is a logical product extension for Voltas and we are delighted to be joining hands with Vestfrost Solutions. The strong technology prowess of Vestfrost combined with the manufacturing and distribution capabilities of Voltas, will help us offer many unique and differentiated products to the Indian market.”

Thomas Jørgensen, Sales Director, Vestfrost Solutions, said: “India’s rapidly growing focus on medical infrastructure presents a big opportunity for our business. The potential for growth in this market is incredibly exciting and we are proud to be partnering with Voltas and the Tata Group, to deliver world class products to the medical industry in India.”

On Tuesday early moring trade, Voltas Ltd is currently trading at Rs822.30 per share down by Rs1.25 or 0.15% from its previous closing of Rs823.55 per share on the BSE.

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