New Delhi, Feb 20 (UNI) Emco Ltd today said it will manufacture transformers in South Africa in a joint venture partnership with Edison Power (Pty) Ltd.
The JV, Emco-Edison Transformers Africa (Pty) Ltd (EETA), will have 51 per cent equity participation from Emco, while the balance holding will remain with South Africa-based Edison, a statement said.
''In line with our growth strategy, we are aggressively planning to establish our overseas presence by setting up manufacturing and marketing units outside India and this JV is one of the steps towards achieving our Goal,'' EMCO Ltd Chairman Rajesh Jain said.
The company aims to achieve 30 per cent of turnover from exports, Mr Jain added.
UNI PDT SR DB2123