CFF Fluid Control enters JV with TKMS ATLAS ELEKTRONIK

CFF Fluid Control Ltd announced that its Board of Directors has approved entering into a binding Joint Venture agreement with TKMS ATLAS ELEKTRONIK GmbH. This JV aims to advance India's 'Make in India' initiative by focusing on local manufacturing, system integration, and through-life support for anti-submarine warfare systems. CFF Fluid Control will hold a 51% stake, while TKMS will hold 49%. The definitive agreements are yet to be executed, and the JV entity will be named TKMS CFF Defence Systems Private Limited. This move is not considered a related party transaction.