Joint Venture11 Mar 2025, 12:18 am
Premier Explosives Ltd Signs Joint Venture Agreement with Global Munition Limited
AI Summary
Premier Explosives Ltd has signed a Joint Venture Agreement and Shareholders Agreement with Global Munition Limited, a subsidiary of NIBE Ordnance and Maritime Limited (NIBE Group Company), to manufacture Defence and Aerospace products. The agreement was signed on March 10, 2025. The shareholding of the joint venture company will be 51% for GML and 49% for PEL. The parties will jointly appoint/nominate the Chief Executive Officer, Chief Financial Officer, Auditor, and other Key Managerial Person for the Joint Venture Company.
Key Highlights
- Premier Explosives Ltd has entered into a Joint Venture Agreement with Global Munition Limited, a subsidiary of NIBE Ordnance and Maritime Limited.
- The purpose of the agreement is to manufacture Defence and Aerospace products.
- The shareholding of the joint venture company will be 51% for GML and 49% for PEL.
- The parties will jointly appoint/nominate the Chief Executive Officer, Chief Financial Officer, Auditor, and other Key Managerial Person for the Joint Venture Company.
- The agreement was signed on March 10, 2025.