Shivalik Bimetal Controls Ltd. signs MoU with Metalor Technologies International SA for setting up a JV to produce Electrical Contacts

Shivalik Bimetal Controls Ltd. (SBCL), a prominent global player in manufacturing of bimetal/trimetal strips, shunt resistors, and electrical contacts, has announced the signing of a Memorandum of Understanding (MoU) with Metalor Technologies International SA (Metalor) to explore the feasibility of setting up a Joint Venture in India to produce electrical contacts. This strategic collaboration aims to enhance Shivalik's manufacturing capability for producing electrical contacts by partnering with a renowned global leader.

Metalor Technologies International SA, headquartered in Switzerland is a member of the Tanaka group of Japan and a global leader in Precious Metals.

Shivalik Bimetal Controls Ltd. through its wholly owned subsidiary (Shivalik Engineered Products Private Ltd) is an established player in the Indian market producing electrical contact assemblies with modern joining methods and a world class tooling infrastructure based in Solan, Himachal Pradesh.

CFO of SBCL, Mr. Rajeev Ranjan shared, "This is an exciting opportunity for Shivalik to set up a world class organisation catering to the needs of global customers both in India and across the world."

Managing Director of Shivalik Engineered Products Pvt Ltd. , Mr. Sumer Ghumman, commented on the MoU: "This has a potential for us to strengthen our manufacturing capabilities using the best technologies in the field of electrical contacts. We look forward to working with Metalor in India and expanding our portfolio of products in the silver contacts segment."

Shares of SHIVALIK BIMETAL CONTROLS LTD. was last trading in BSE at Rs. 540.05 as compared to the previous close of Rs. 551.40. The total number of shares traded during the day was 15803 in over 1241 trades.

The stock hit an intraday high of Rs. 560.35 and intraday low of 537.00. The net turnover during the day was Rs. 8631613.00.

Source : Equity Bulls

Keywords

SHIVALIKBIMETALCONTROLS INE386D01027 MoU MetalorTechnologies JV