Oerlikon Exits Jv With Advanis

Swiss major Oerlikon has exited its Indian joint venture, Advani-Oerlikon, the welding consumables company, by selling its eight per cent stake in the buyback announced by the company.

The stake of the Advanis has increased post-buyback to about 53 per cent from about 43 per cent earlier. The balance 47 per cent is held by the public.