Stone India ties-up with MZT Hepos AD
Mumbai, Mar 24 (UNI) Stone India has executed a technical collaboration agreement (TCA) with MZT Hepos AD, to facilitate upgradation of its distributor valve to be compliant with the international UIC specification of last year.
A release issued to the Bombay Stock Exchange (BSE) of the same the company stated that MZT Hepos is a subsidiary of Poli Construzione Materiali Trazione SpA of Italy.
This agreement comes into immediate effect and the company will start manufacturing this new generation distributor valve which is the heart of all modern air-brake systems for railway rolling stock.
These will be manufactured from both the company's existing as well as new facility located at Himachal Pradesh from Q2 FY 07, the release said.
The agreement has an inbuilt buyback clause by MZT Hepos for the international market, the release added.
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