The joint ventures have made companies that have proven to be a success with a lot of employees and projects working under them. There are a lot of challenges a joint venture company faces to equip their employees with the vision of the joint venture, but those who stand successfully make a greater amount of profit from the market.
There are several companies working in different part of the world who have started joined venture and improved from their current position. Therefore, this is an outlook into the future and the companies are moving to this process. Here are the top 10 best joint venture companies in the world in 2019.
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10. The Saudi Butanol Company (SABUCO)
This company was built with three big companies who took equal shares of a company and made it. The three companies that took part in it are Sadara, Saudi Kayan, and SAAC and the company were founded to manage the butanol plants and those were the first plants in the Middle East for which this joint venture is important. The capacity of the plant was designed to make it the largest plant in the world and making of that much production every year generated a great amount of revenue for the time.
9. Cosmo tech
This is a joint venture company comprising of the different companies like Sumitomo Corporation, Sumitomo Corp. of Brazil S.A., Sumitomo Corp. of America. The Sumitomo corporation is a group itself comprising of about 800 companies with many employees. The joint venture company started fully into fashion business and have located the hot spots for selling the cosmetics so that all the products are sold around the world. With marketing, sales and production working together, the branding of Cosmotec has improved.
8. Chery Jaguar Land Rover Automotive Company
The two giants in the automobile industry have been in the field for a very long time. They went into a joint venture with Chery automobiles. There a new plant was made to make better innovations in the industry at Shanghai. The total goal of the joint venture is to make sure that the innovations in the company in China are made with utmost regard for the environment. With the new works on decreasing pollution done in the country, the car company is looking forward to getting non-polluting cars so as to improve the environment in near future.
7. AMEC Samsung Oil and Gas, LLC.
The multinational joint venture was made between AMEC from U.K. and two companies in shipbuilding business, Samsung Heavy Industry, and Samsung Engineering. They started the company to create offshore engineering works. These company provided designs and building projects or project management to the oil companies all around the world. The joint venture based in Houston, Texas has been one of the top providers of offshore engineering works. The revenues have proved that this joint venture went successful and gave facilities to best oil companies like Shell, Petrobras, BP etc.
6. Sony Ericsson
Sony and Ericsson are two world famous brands in the production and development sectors of electronics and telecommunication industries, making the work simpler for the people. After they declared their joint venture a mobile-based production company and an electronic manufacturer blended together to get storage chips produced for the giant companies in the industry. The different products offered by them flourished in the market and then Sony fully took over the job and came with the name of Sony Networks. This the joint venture went successfully from the beginning and is getting carried on till now.
5. Dow and Corning
Dow is a well-known chemical manufacturer in the world and the Corning Incorp. has been a famous name in glass manufacturing. They were working on some chemical problems in airplanes that made their company work together for solving out a single problem. They formed a joint venture soon in the USA and prepared a product line of adhesives, sealants, and rubber, liquid silicone, release agents etc. which are some necessary products in the industry. The joint venture has put forward many products making them work on the issues in different industries. This venture has produced massive amount of revenue and has been several decades in the business and deserves to be one of the top joint ventures.
4. Hisun – Pfizer JV
Pfizer is one of the world’s largest drug company and Hisun is a pharmaceutical company who formed a joint venture. They are based in China and the joint venture was made by the companies since the sales of Pfizer dropped there suddenly and most of the products of the company were discarded due to expiration issue. Since China is the second largest drug market in the world and the shares of sales in this area are important for revenues. Therefore this venture proved to be of great help to the world drug industry.
This is a joint venture put forward by the Microsoft Corp. and General Electric and is a health IT company working in the industry. The work was made to improve the economics of medical field guided with health and betterment of patients. The health systems working on the innovation, technology, and clinical applications, so that the work of medical field is improved. The paradigm and care provided by the company made this venture another fruitful one in the world.
2. Cadbury Schweppes PLC Carlyle Group JV
Cadbury has been one of the largest producers of confectionery products. The company was known as Cadbury Schweppes PLC and that unit they built for beverage production was in London. The company was into confectionery business for long and then joined with investment giant Carlyle Group. The Beverage America and Select Beverages were acquired by them which generated more revenue and the process was made to beat Coca-Cola and Pepsico in the global confectionery and beverage market as competitors to the similar products.
1. Siemens AG and Nokia Corp. JV
This is by far the company with the highest impact on the global market. The companies Siemens AG and Nokia Corp. worked on the joint venture. The joint venture company was made because of the increasing competition from other Chinese merger companies and brands in the international market. They were estimated as one of the largest company is sales and manufacturing of telecommunication products making the joint venture a success. The revenue generated in the merger fully shows why it deserves to be in this list of best joint ventures.
The companies that are presented here were great in their respective industries and were in related businesses. The joint ventures they made were because they found that working together would earn them higher revenues with higher shares. The companies have been working on the process of expansion and improving their production so that they can create a higher impact in the market. These companies are the success stories with their revenues and mode of operations improving with time.