Suprajit Engineering signs MOU with Chinese company for JV

Suprajit Engineering Ltd has announced the following:

1. MoU signed with Jiang Yin Yuan Feng Communication Equipments Co Ltd of China for a JV to manufacture cables in China. This is expected to be a 70:30 Joint Venture and will be a subsidiary of the Company.

2. Subsidiaries - Gills Cables UK and CTP Suprajit Automotive Pvt Ltd have received new export business, valued at about US$ 7.5 million / year for the coming years, from Global majors.

3. Mr Diwakar Shetty (Chairman and Managing Director of Shetron Group) has joined the Board as an Independent Director.

4. The Pantnagar plant for cables and expansion at various existing units are on schedule.

Source : Equity Bulls

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