Raymond completes JV deal with Italian firm

Raymond has signed a 50:50 joint venture agreement with Lanificio Fedora S.P.A, Italy in accordance with board approval.

According to a release issued by Raymonds to the BSE, the company had proposed a JV with the Italian firm at its meeting held on June 09, 2005 for manufacture and sale of blankets, shawls and carded woollen fabrics at a project cost of Rs 39.91 crores at Jalgaon, Maharashtra.