Brief: Lumax Autotechnologies Signs JV Deal With JOPP, Germany To Make, Sell Automotive Components

Lumax Auto Technologies

11/04/2019 15:27

April 11 (Reuters) - Lumax AutoTechnologies Ltd  LUAT.NS :
    * SIGNS JV DEAL WITH JOPP HOLDING JMBH, GERMANY TO MAKE AND
SELL
AUTOMOTIVE COMPONENTS
    * UNDER JV, BOTH PARTNERS WILL HOLD AN EQUAL 50% SHARE IN
NEW
ENTITY TO BE NAMED LUMAX JOPP ALLIED TECHNOLOGIES
    * COMMERCIAL PRODUCTION IS EXPECTED TO BEGIN IN Q4 OF FY 20
FROM
EXISTING LUMAX FACILITY IN MANESAR, HARYANA
    * JV CO WILL MAKE AN INVESTMENT OF 750 MILLION RUPEES OVER
PERIOD
OF 5 YEARS

Source text: http://bit.ly/2P6wtDZ
Further company coverage:  LUAT.NS 

 ((Reuters.Briefs@thomsonreuters.com;))