GMM Pfaudler informed the exchnange that their wholly owned subsidiary GMM Pfaudler US Inc., USA had incorporated a joint venture company with JDS Manufacturing Inc in USA named “GMM Pfaudler JDS LLC” and had completed the acquisition of 51% shareholding of GMM Pfaudler JDS LLC on November 28, 2022.
The joint venture is incorporated in Delaware on November 28, 2022. JDS is based in USA having a turnover of USD 750,000 as on December 31, 2021.
The joint venture will help both the parties to further develop the high-margin service business and is expected to strengthen GMM Pfaudler Ltd’s market position in the USA.
GMM Pfaudler US Inc and JDS holds 51% and 49% respectively in GMM Pfaudler JDS LLC.
Source: BSE