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.
Also read: US military plane crashes during training in Mediterranean
Prime Minister Narendra Modi on Friday held a high-level meeting with Defence Minister Rajnath Singh,…
Pakistan in the beginning claimed to shoot down Indian drones. Then, they said drones were…
The biggest gains from privatisation are expected in rural and semi-urban areas, where electricity supply…
The cost of a 1 kW plant is ₹65,000. With ₹45,000 from the government and…
The Chief Minister stressed increased vigilance by the police, more combing operations, and intensified patrols.…
The Indian Air Force’s Wing Commander Vyomika Singh said Pakistan did not close its civil…