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Tokai Rubber Industries Ltd Announces Business Alliance with Imperial Auto Industries Limited


Monday, 17 Dec 2012 02:30am EST 

Tokai Rubber Industries Ltd announced that it has decided to form a business alliance with Imperial Auto Industries Limited, through a joint venture Tokai Imperial Hydraulics India Private Limited (formerly Tokai Rubber Industrial Hose India Private Limited). The Company and Imperial Auto Industries will acquire shares in Tokai Imperial Hydraulics India, and hold an 81.7% stake and an 18.2% stake in the joint venture respectively, effective January 31, 2013. The joint venture, which is a wholly owned subsidiary of the Company as of December 17, 2012, is engaged in the manufacture and sale of high-pressure rubber hose for construction machinery. 

Company Quote

1026.0
1.0 +0.10%
11 Jul 2014