Raymond to set up sheet metal components unit in JV with US-based co

New Delhi, Dec 13 (UNI) Raymond Ltd today said it has entered into an equal joint venture with Ring Plus Aqua Ltd (RPAL), a subsidiary of US-based AJ Rose Manufacturing Company, for setting up sheet metal components manufacturing facility in India at Rs 16.6 crore.

The JV is, however, subject to requisite regulatory and other approvals.

RPAL is engaged in manufacturing and marketing of starter ring gears, integral shaft bearings, flexplates and sheet metal pulleys at its plant situated at Maharashtra.

AJ Rose is a premium sheet metal component manufacturer. It supplies different kinds of pulleys, precision stampings, water pump components to the automobile manufacturers, through its manufacturing units based in Avon and Cleveland, Ohio.

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