Voltas Limited : and Dow Chemical Pacific (Singapore) Pte Ltd. form Joint Venture Company

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VOLTAS LIMITED

28th February, 2014

Bombay Stock Exchange Limited Department of Corporate Services Phiroze Jeejeebhoy Towers

Datai Street

Mumbai 400 001

cc: National Stock Exchange of India Limited

Listing Department

Dear Si r,

Sub: Joint Venture with Dow Chemical Pacific (Singapore) Pte. Ltd.

This is to infonn that Voltas Limited has today executed a Joint Venture Agreement with Dow Chemical Pacific (Singapore) Pte. Ltd. for establishing a joint venture company, to tap the growing water and waste water treatment market in the country. The proposed new company - 'Voltas Water Solutions Private Limited ' will have equal capitai contribution from Voltas and DOW.

2. Three copies of Press Release in connection with the above are enclosed for your infonnation.

Thanking you,

Yours faithfully,

VOLTAS LIMITED

(V. P. MALHOTRA) Vice President - Ta··wtion, Legai & Compan' Secretary

Encl:

Corporale Management Office

Voltas House A Dr Babasaheb Ambedkar Road Chinchpokli Mumba1 400 033

Tel [phone] 66656258 Fax [phone] e·mail vpmalhotra@voltas . com website www.voltas.com

A TATA Enterprise

VOLTA$ LIMITED Voltas Limited and Dow Chemical Pacific (Singapore) Pte Ltd. join forces in India

• Joint Venture Company for Water and Waste Water Treatment to be estabtished,

• Partnership will leverage the brand and distribution strength of Voltas, and technology leadership of Oow in components for water and waste water treatment.

Mumbai (India), 28 February, 2014- Voltas Limited and Dow Chemical Pacific (Singapore) Pte. Ltd., a member of the Dow Group Companies ("Dow Group"), have agreed to establish a joint venture company in India, to tap the growing Water and Waste Water treatment market in the country. The proposed new company- Voltas Water Soluttons Private Limited - will be anegual partnership joint venture.
The company will market and distribute standard packaged Water Treatrnent Systems and Waste Water Treatment Systems of capacity up to 20 m3/hour, to residential and commerciai complexes and light industriai markets in the lndian subcontinent. The entity's operations would include designing, procuring, testing, marketing, selling and servicing of such standard water treatment systems and waste water treatment systems.

Snehal Desai, Global Business Leader for the water and process solutions division of Dow Group commented: 'We are proud to form an alliance with Voltas Limited - a Tata company. Water treatment has significant business potential in India, and Voltas is an ideai partner with a strong brand reputation, and a wìde-spread sales and servìce network. As part of ourlong-term strategy, we intend to establish the joint venture, to fully exploit the untapped potential of the lndian market. This joint venture is a significant step towards further strengthening our position in mid-market water systems in India."
Sanjay Johri, Managing Director of Voltas Ltd, said, 'Water has been identified as a key focus area for the Tata group, and we are very happy to work with Dow Group, in this area. With its unrivalled know-how and technologicalleadership in the water treatment space, the partnership, will help Voltas Water Solutions cater to the growing water treatment requirements of the lndian subcontinent. The partnership will sirflultaneously leverage the brand and distribution strength of Voltas, along with the technology prowess of the water and process solutions division of the Dow Group. We will work towards establishing the joint venture as a leading provider of water treatment solutions"
The Water and Waste Water Treatment market targeted by the new company is largely catered to today, by unorganized players. The new joint venture will provide a branded and differentiated product line, with a focus on quality and service delivery.

The Companies

About Dow Group

Dow Chemical Pacific (Singapore) Pte Ltd was established in 1992. Catering to customers in

Asia Pacific, particular/y South East Asia

Dow Group combines the power of science and technology to passionate/y innovate what is essential to human progress. The company is driving innovations that extract value from the intersection of chemìcal, physìcal and biologica/ scìences to help address many of the world's most challenging problems such as the need for clean water, clean energy generation and conservation, and increasing agricultural productivity. The company's integrated, market­ driven, industry-leading portfolio of specialty chemical, advanced materials, agrosciences and

plastics businesses delivers a broad range of technology-based products and solutions to

customers in high growth sectors such as packaging, electronics, water, coatings and agriculture.

About Voltas

Vo/tas Limited is a premier engineering so/utions provider and project specialist. Founded in India in 1954, Voltas Limited is part of the Tata Group, and offers engineering solutions far a wide spectrum of industries in areas such as heating, ventilation and air conditioning, refrigeration, electro-mechanical projects, textile machinery, mining and construction equipment, water management & treatment, co/d chain solutions, building management

systems, and indoor air quaNty. The Company is a/so a market leader in room air condnioners in

India.

lssued by:

B.N. Garudachar

Generai Manager

Corporate Communications & IR Tel: [phone]

Mob: [phone]

Rediffusion l Edelman

Ms. Neha Khatter(Delhi) 91-8826416555

Ms. Sahana Chowdhury (Mumbai) 91-9619438295

Corporate Communications Department

Voltas House A 4th Floor Dr Babasaheb Ambedkar Road ChinchpokliMumbai 400 033

Tel[phone] 66656281Fax [phone] website www . voltas.com

A TATA Enterprise