Shri Lakshmi Cotsyn forms JV with UK-based company

Tuesday, December 26, 2006, 19:06 [IST]

Mumbai, Dec 26 (UNI) Shri Lakshmi Cotsyn Ltd has informed BSE that the company has formed Joint Venture (JV) with UK-based company named, Armet Armored Vehicles Ltd, under the name of ''Armet Armored Vehicles&Shri Lakshmi Ltd''.

The company is participating with 49 per cent equity in the said Joint Venture company whereas Armet Armored Vehicles Ltd, UK, is having 51 per cent equity in overall capital structure.

The main business of this joint venture will be to carry on the business of manufacturing of armored vehicles and manufacturing of armor plates, panels, helmets, ballistic body amours, etc and similar safety and security related equipments for domestic as well as foreign market.

The manufacturing unit of the Joint Venture company will be established in Dist Malwa, Fatehpur, U.P.

UNI KKD SD AW1833

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