Lakshmi Cotsyn to increase share in Armet Armoured vehicles

Mumbai Sep 19 (UNI) The Board of Shri Lakshmi Cotsyn Limited (SLCL), a diversified textile powerhouse, today decided to enhance Company's holding in its joint venture Armet Armoured vehicles (india) ltd to 75 per cent from the current level of 49 per cent.

Consequently, the stake of JV partner Armet Armoured Vehicles UK would reduce to 25 per cent from 51 per cent, the Company said in a release here.

The company has recently entered into joint venture with the Armet Armored Vehicles Ltd, U. K. for manufacturing of High-End 360 degree Armoured Vehicles, First of its Kind in India with bullet- mine and bomb -proof accessories. It expected to roll out about hundred such highest security protection level armored vehicles by 2009. The JV will also manufacture assembly of armour plates, panels, helmets and other safety and security related equipments in India.

Sri Lakshmi is an approved vendor with host of Indian defence establishments, manufacturing safety textiles such as bio- chemical, high altitude fabric, bullet-proof jackets and bullet-proof helmets, camaflouge fabrics, uniform fabric, IR fabric and carbon fabric.

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