Raymond clarifies on news item regarding JV

With reference to the news item appearing in a leading financial daily titled "Raymond, Treves to set up JV for auto furnishing", Raymond Ltd has clarified that the Company's Subsidiary Company, Silver Spark Apparel Ltd has entered into a Joint Venture Agreement with Treves SA, France for marketing of automobile knitted and woven textiles and related products through a 50:50 Joint Venture Company with an initial paid-up capital of Rs 108 lakhs.

Treves SA, France is a leading manufacturer and distributor of automobile textiles and interior parts for automobile.

Source : Equity Bulls

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