JOINT VENTURE PARTNERSHIPS

The Max Group is credited with successfully forging and nurturing strong and fruitful business relationships with several leading global companies. The Group’s philosophy is to build open and transparent relationships which are managed in the spirit of Equality. Since its inception almost three decades ago, Max has attracted the best global companies as its business partners. The Group has succeeded in merging its partners’ expertise with its own experience, knowledge and attributes to emerge as a quality leader in all its businesses.

Some of its past joint venture partners include New York Life, Hutchison Telecommunications, Motorola, Schering AG, Avent Inc., Gist-brocades (GB), The Upjohn Company, Comsat International Ventures, Atotech BV.

The Max Group is proud of the excellent partnerships it currently has with Mitsui Sumitomo, Japan, Life Healthcare, South Africa and Bupa Finance Plc., UK for its Life Insurance, Healthcare and Health Insurance businesses respectively. These partnerships have consistently grown, developed, and matured into strong relationships.

PAST JV Partners

Atotech BV (Plating Chemicals)

Germany-based Atotech BV is one of the world’s leading manufacturers of processes and equipment for the PCB industry and the decorative and functional electroplating industry. In 1996, Max India entered a JV with Atotech to manufacture Printed Circuit Board Plating and general metal finishing chemicals. Max India divested its stake in the JV in 2001 granting 100% control to its German partner

Avnet Inc., USA (Electronic Components)

Avnet Inc., USA is one of the world’s largest global distributors of electronic components, computer and IT solutions, embedded technology and services. In 1998, Max Electronics entered into a Joint Venture partnership with Avnet. The business was re-christened ‘Avnet Max’. Max India exited the business in 2002 to sharpen its focus on service-oriented businesses.

Pharmaceuticals

In February 1993, Max India integrated its drug intermediates business in a 50:50 JV with the Dutch food products and biotechnology company International BV, which was later acquired by the Dutch multinational DSM NV. The JV was christened Max GB Limited and the integration made it the largest manufacturer of intermediate drugs in India and Asia. In 1995, Max GB and Hindustan Antibiotics Limited (HAL) entered into a JV, Hindustan Max GB Penicillin, to set up Asia’s first fermentation Penicillin facility. As part of its shift to the service sector, Max India exited Max GB by selling its 24% stake to its partner DSM.

 

Motorola (Electronic Components)

Motorola, Inc. was a US-based multinational telecommunications company, which designed and sold wireless network equipment such as cellular transmission base stations and signal amplifiers. In 1989, Max India launched Max Electronics to enter the electronic component distribution business  for Motorola, Inc. In 1996, Max India again partnered with Motorola as the exclusive representative of Motorola Semi-Conductor for the South India sub-continent. Max India exited the business in 1997.

New York Life (Life Insurance)

New York Life is the largest mutual life-insurance company in the United States, and one of the largest life insurers in the world, with about US $512 billion in total assets under management. New York Life was the founding partner for Max India’s life insurance business (then Max New York Life Insurance). New York Life served as Max India’s JV partner for 10 years before deciding to exit in 2012 as part of its global strategic realignment.

Comsat International (Communication Services)

Comsat is a global telecommunications company based in the USA. It provides telecommunications services for enterprise, government, and service-provider customers. In 1995, Max India entered into a joint venture with Comsat International Ventures, USA, to set up Comsat Max Limited, which offered satellite communication services using VSATs.

Hutchison Telecoms (Mobile Telephony)

Hutchison Telecoms (now Hutchison Asia Telecommunications Limited) is a multinational telecommunications services company headquartered in Hong Kong. It operates GSM mobile telecommunications services across Asia. In 1992, Max India entered into a partnership with Hutchison to set up Cellular and Radio Paging services through Hutchison Max Telecom Pvt. Ltd (HMTL). Hutchison Max launched radio paging services ‘Max Page’ in 7 cities – Ahmedabad, Bangalore, Baroda, Chandigarh, Hyderabad, Ludhiana and Pune – and cellular telephone services ‘Max Touch’ in Mumbai. In 1998, Max India divested 90% of its stake in Hutchison Max.