Kajaria Ceramics Forms Subsidiary JV In UAE
Kajaria Ceramic's subsidiary executed a joint venture agreement with AL Rathath Marble Factory LLC, UAE. The agreement will ensure the successful conduct of the business of Glazed Vitrified Tiles, Sanitaryware/Bathware products, marbles, granites, natural stones, and allied products in UAE through a company namely Kajaria RMF Trading LLC, UAE, by way of acquiring its shares in the equal ratio, i.e., 50:50, on JV basis. "Kajaria Ceramics’ wholly owned subsidiary — Kajaria International DMCC, UAE has executed a Joint Venture Agreement with AL Rathath Marble Factory LLC, U.A.E. The purpose of this Agreement is to run the business of glazed vitrified tiles, sanitaryware /bathware products, marbles, granites, natural stones, and allied products in UAE through a company namely Kajaria RMF Trading LLC, UAE, by way of acquiring its shares in the equal ratio, i.e. 50:50, on joint venture basis. Initially, 1000 shares of AED 1000 each will be issued at par value in equal ratio to the parties of said the JV Agreement," said Kajaria Ceramics in a communication to the bourses. Kajaria Ceramics is engaged in manufacturing of ceramic/vitrified tiles in India. Its segments include tiles and others. The tiles segment includes the manufacturing and trading of ceramic and vitrified wall and floor tiles. The other segment includes the manufacturing of sanitaryware and faucets and the trading of plywood and block board.