Usha Martin, a domestic wire ropes maker, announced on Saturday the formation of a step-down joint venture subsidiary firm in Saudi Arabia.
Usha Martin stated in a regulatory filing that Brunton Wire Ropes Industrial Company Ltd will distribute, produce, sell, and apply wire ropes, slings, and allied items.
According to the paperwork, the entity was formed on November 10th.
“Brunton Wire Ropes FZCo. (BWR), a subsidiary of the company has established a joint venture in the Kingdom of Saudi Arabia called Brunton Wire Ropes Industrial Company Ltd. As a result, Brunton Wire Ropes Industrial Company Ltd has become a subsidiary of the company”, it stated.
According to the filing, BWR’s board of directors includes two directors and one of Usha Martin’s promoters.
Usha Martin is a global leader in wire rope manufacturing. Usha Martin’s wire rope manufacturing plants in Ranchi, Hoshiarpur, Dubai, Bangkok, and the United Kingdom create the broadest range of wire ropes used in a variety of industries around the world.
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