Raymond signs JV agreement with Grotto SpA, Italy

Raymond Ltd has announced that a 50:50 Joint Venture (JV) Agreement has been signed on November 10, 2006 between the Company and Grotto S.p.A., of Italy (the owner of the international brand 'Gas') for sale in India of casual apparel and accessories bearing the trademark 'Gas'. The Joint Venture is subject to the approval of the Board of Directors of the respective Companies, certain conditions precedent, requisite regulatory and other approvals.

Source : Equity Bulls

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