Avalon Tech Forms JV with Zollner Elektronik AG
Avalon Technologies Ltd announced a significant development following its Board Meeting on September 03, 2026. The company has entered into a Joint Venture Agreement (JVA) with Zollner Elektronik AG, a European EMS company, to establish 'Zollner Avalon Private Limited'. Initially, Zollner will hold a 51% stake and Avalon 49%, with an option for Avalon to increase its stake to 51%. This JV aims to create a manufacturing and services platform in India for PCBA, box-build, and related services, supporting domestic business and exports. The Board also approved the incorporation of a wholly owned subsidiary, which will be converted into the JV entity. Additionally, the Board approved the appointment of Mr. CG Balaji as an Additional Director (Independent) and the re-appointment of Mr. Kunhamed Bicha as Chairman & Managing Director, and Mr. Venkataramani Anantharamakrishnan and Mr. Byas Unnikrishnan Nambisan as Independent Directors, all subject to shareholder approval.
Key Highlights
- Avalon Tech and Zollner Elektronik AG to form a joint venture.
- JV 'Zollner Avalon Private Limited' to focus on PCBA and EMS in India.
- Zollner to initially hold 51% stake, Avalon 49%, with potential for Avalon to increase.
- Board approved appointment of new director and re-appointment of CMD and two directors.
- Transaction is subject to requisite approvals and definitive agreements.
Price Impact
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