Financial Daily from THE HINDU group of publications
Sunday, May 22, 2005

Port Info

Group Sites

Corporate - Alliances & Joint Ventures

Usha Martin, Austrian co Joh Pengg tie up for joint venture unit

Our Bureau

Kolkata , May 21

USHA Martin Ltd has arrived at an understanding with Joh Pengg AG, an Austrian-headquartered producer and worldwide exporter of oil-tempered round and shaped wire for automotive and various applications, to set up a joint venture manufacturing facility in the country to serve the growing demand for the product in India and the global market.

According to a company press release, the proposed joint venture envisages a starting production capacity of 3,000 tonnes per annum that would be raised to 10,000 tonnes per annum progressively.

Joh Pengg will hold 60 per cent of the equity stake in the proposed joint venture while Usha Martin will hold the balance. An agreement in this regard was finalised during the recent visit of Mr Alexander Phillipp, Managing Director of Joh Pengg AG, to India, according to the release.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
NTPC, DMRL to develop gas turbine blades

Amtek to issue $150-m FCCBs
Earnings growth slows, but stays robust — Operating margins fall; net profit margins rise
Ex-MP objects to Anil Ambani using Rajya Sabha letterhead
Hyundai launches first US car plant
Usha Martin, Austrian co Joh Pengg tie up for joint venture unit

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line