Serigraph picks up stake in SJS enterprises, signs MoU
Bangalore, Apr 3 (UNI) The US-based Serigraph, a global leader in manufacturing products, today signed a joint venture agreement with the city-based SJS Enterprises Private Limited, manufacturers of self-adhesive logos, domes, overlays, fascia and dials for automative and appliances industries.
Addressing a press conference here, SJS Director (Marketing) Srinivasan said under the agreement Serigraph picked up 12 per cent stake of SJS. The agreement would enable to create a joint marketing platform to reach out to customers across the globe.
He said the agreement was an open door arrangement whereby both companies were free to transfer technology and jointly reach out to markets with innovative products and strategies.
Mr Srinivasan said the joint venture, the first of its kind in the industry, would ensure flow of orders from Serigraph and SJS would increase production capacity and gear up to address an array of untapped industry segments.
Serigraph Chairman and CEO John Torinus Jr, who was also present, said ''this joint venture will help us spread our wings, grown in the world and cater to the demanding global market for product decoration.'' He said SJS' turnover was expected to touch Rs 100 crore by 2008 from the present Rs 30 crore.
Serigraph was USD 160 million company manufacturing decorative components and innovative products like graphic overlays, badges, floor graphics, heat transfers and decorative trims.
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