Anchor Electricals Pvt. Ltd, leaders in the Indian electrical accessories and wiring devices market has announced a joint venture with Japan based electrical giants - Matsushita Electric Works Ltd. (MEW), well known across the world for their best selling National and Panasonic brands.


1. The joint venture will allow Anchor Electricals, to share and collaborate with MEW on a wide range of product lineups and proprietary technologies contributing large expansions of its business operations.


2. This joint venture would also help in ramping up the international operations and further strengthen the company's business by sharing key technologies and product line ups.


3. The Anchor brand name would remain unchanged with continued use of the brand and logo. Employments and distribution systems would also remain unchanged.


4. MEW would look at introducing new products to the Indian consumer such as consumer electronics, home automation, home improvements such as interior design solutions and security systems and security products.


5. Following this transaction, Anchor will become a consolidated subsidiary of Matsushita Electric Works, Ltd.