Shri Lakshmi Cotsyn forms JV with UK-based Co'

New Delhi, Dec 26: Kanpur-based Shri Lakshmi Cotsyn Ltd today said it has formed a joint venture (JV) with UK-based Armet Armoured Vehicles Ltd under the name of 'Armet Armoured Vehicles&Shri Lakshmi Ltd'.

The main business of the JV will be to carry on the business of manufacturing of armoured vehicles and armour plates, panels, helmets, ballistic body armours, etc and similar safety and security related equipments for domestic as well as foreign market.

The company will hold 49 per cent stake in the said JV, while Armet Armoured Vehicles Ltd, will have 51 per cent equity in over all capital structure.

The manufacturing unit of the JV company will be established in district Malwa, Fatehpur, UP.

UNI