Indo-Asean Fusegear tie up with Nepalese firm

Chennai, Jun 5 (UNI) Indo Asian Fusegear Ltd, a leading electrical switchgear and lighting equipment manufacturer, has launched its 'Hausmann' range of premium electrical products in Nepal.

The company had tied up with Nepal's leading industrial house, Golchaa Industries, for distribution of the Hausmann range, a release said here today.

Apart from neighbouring countries, the company was also looking at the Middle East, fast emerging as a potential market.

Company Chairman and Managing Director V P Mahendru said 'we decided to test waters in Nepal's booming market with Hausmann, our premium export range. We already export the Hausmann products to various European countries besides catering to domestic markets.' 'We are targeting delivery of over Rs 200 million worth of Hausmann products during the first year of operations. We aim to become number one in the Nepal market within next two years,' he added.

In another development, Indo Asian shareholders had authorised the Board of Directors to create, offer, issue and allot up to 7,50,000 Zero Coupon warrant, each warrant convertible into one equity share of Rs 10 each at a price of Rs 160, inclusive of premium on preferential basis to the promoters of the company.

UNI AKN AA 1905