Shri Lakshmi Cotsyn in JV with UK firm

Shri Lakshmi Cotsyn has formed a joint venture (JV) company with UK-based Armet Armored Vehicles for manufacturing armoured vehicles and other safety and security related equipment.

In the JV company "" 'Armet Armoured Vehicles and Shri Lakshmi', Shri Lakshmi Cotsyn would have 49 per cent equity shares whereas Armet

Armoured Vehicles would have 51 per cent stake in the overall capital structure, Shri Lakshmi Cotsyn informed the Bombay Stock Exchange.

The manufacturing unit of the JV company would be established at Malwa in UP. The joint venture, besides manufacturing armoured vehicles, would make armor plates, panels, helmets, ballistic body armours and similar safety and security related equipment for domestic and foreign market.