Joint Venture20 Jun 2024, 12:56 pm
ACTION CONSTRUCTION EQUIPMENT LTD. in Talks with KATO WORKS CO LTD. for Joint Venture in India
AI Summary
ACTION CONSTRUCTION EQUIPMENT LTD. has disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, that they are in discussions with KATO WORKS CO LTD., a Japanese global construction equipment manufacturer, to establish a joint venture in India. The joint venture aims to produce medium and large sized cranes for the growing Indian market and later introduce value added products for exports to other countries from India. The establishment of the joint venture is a part of ACTION CONSTRUCTION EQUIPMENT LTD.'s medium- to long-term growth strategy.
Key Highlights
- ACTION CONSTRUCTION EQUIPMENT LTD. and KATO WORKS CO LTD. are in discussions to establish a joint venture in India.
- The joint venture aims to produce medium and large sized cranes for the Indian market.
- The joint venture also plans to utilize the technology cultivated in the company's development for a wide range of value added products for exports.
- The establishment of the joint venture is a part of ACTION CONSTRUCTION EQUIPMENT LTD.'s medium- to long-term growth strategy.
- The joint venture is expected to be a pillar of ACTION CONSTRUCTION EQUIPMENT LTD.'s growth strategy.