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| Exchange Disseminated Time | Balmer Lawrie & Company Ltd has informed BSE that the wholly-owned subsidiary of the Company, viz. Balmer Lawrie (UK) Ltd., a Company registered under the UK Companies Act, has launched a 50:50 Joint Venture Company under the name and style of "PT Imani Ganda Utama" (PTIGU) at Indonesia - the other partner being an existing Indonesian Company, viz. PT Imani Wicaksana - for manufacture and marketing of greases and lubricants in Indonesia.
The Company is a confirming party to the Joint Venture with an interest of expanding its operations and scope of business activities relating to lubricants outside India including Indonesia. The Company proposes to enter into a Technical Collaboration Agreement with PTIGU in due course for supply of Technical information to enable manufacture of lubricating greases and other lubricants by PTIGU. |
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