Mumbai : Sharda Motor Industries has purchased its 50% share (5,000 shares of Rs. 10 each) in the proposed JV Company namely; Exhaust Technology and an equal stake shall be brought by the Eberspaecher Exhaust Technology International GmbH (EET) in the said proposed JV Company in due course of time.
Earlier, the company had entered into a Joint Venture (JV) agreement with EET with an equity sharing ratio of 50:50 between the JV Partners, accordingly in pursuance of JV Agreement.
Sharda Motor Industries was incorporated in 1986. It manufactures automotive components and metal parts, exhaust system components, fabric automotive upholstry products.