Joint Venture28 Aug 2025, 11:39 am
Permanent Magnets Ltd Subsidiary, Quantum Magnetics Private Limited, Enters into Joint Venture with Lorentic Pte Ltd
AI Summary
Permanent Magnets Limited (PML) announced that its wholly owned subsidiary, Quantum Magnetics Private Limited (QMPL), has entered into a Joint Venture Agreement with Lorentic Pte Ltd. The joint venture aims to manufacture, market, and distribute neodymium magnets and related magnetic assemblies, along with collaboration on research and development of advanced magnetic products. The joint venture will enable QMPL to expand its product portfolio, strengthen R&D capabilities, enhance market reach, and improve competitiveness, creating long-term strategic value for all stakeholders.
Key Highlights
- Permanent Magnets Limited's subsidiary, Quantum Magnetics Private Limited, enters into a Joint Venture Agreement with Lorentic Pte Ltd.
- The joint venture aims to manufacture, market, and distribute neodymium magnets and related magnetic assemblies.
- The joint venture will also collaborate on research and development of advanced magnetic products.
- The joint venture is expected to expand QMPL's product portfolio, strengthen R&D capabilities, enhance market reach, and improve competitiveness.
- The joint venture is expected to create long-term strategic value for all stakeholders.