EPACK Durable, a major player in air conditioning sector, has entered a strategic agreement with Panasonic Life Solutions India Private Limited to make essential components for Panasonic's Room Air Conditioners (RACs).
Under the arrangement, EPACK will act as an Electronics Manufacturing Services (EMS) provider for Panasonic, producing PCB controllers for air conditioners and other critical components such as heat exchangers, cross-flow and propeller fans, injection molded components, and copper parts.
EPACK said by providing critical components to Panasonic, the company is amplifying footprint in the EMS sector. Bajrang Bothra, Executive Chairman of EPACK said this will have a game-changing impact, "This business awarded by Panasonic marks a defining moment for EPACK. With the surging demand for energy-efficient, inverter-based Room Air Conditioners in India, the need for top-tier PCBA Controllers has never been greater."
The PCB controller is considered to be the brain of an inverter AC and a vital and high-value component.
"Since March 2023, EPACK has been producing these advanced controllers at our Bhiwadi facility, initially for captive needs. Now, we are leveraging this cuttingedge capacity to manufacture Inverter PCBA controllers for Panasonic and other key clients, while ambitiously expanding our product portfolio in the EMS segment," said Ajay DD Singhania, Managing Director & CEO of EPACK.
This development is being called 'transformative' by EPACK, adding that this helps the company evolves from producing PCB Controllers for captive use to becoming a key supplier for a leading player like Panasonic.
This EMS opportunity opens new avenues for growth, said EPAK Durable.
Shares of Epack Durable have doubled so far this year with a sharp upmove since September. The company has a market capitalisation of Rs 4,000 crore.
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