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News about Raymond Limited

March 29th, 2007

NSE Press Release

The media had reports that Raymond Ltd. may set up a joint venture (JV) with Treves SA, $1.3 billion French company, to foray into the automobile furnishing sector.

The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.

Raymond Ltd. has vide its letter inter-alia stated, “This is to clarify that our Subsidiary Company, Silver Spark Apparel Limited has entered into a Joint Venture Agreement with Treves SA, France for marketing of automobile knitted and woven textiles and related products through a 50:50 Joint Venture Company with an initial paid-up capital of Rs 108 lakhs. Treves SA, France is a leading manufacture and distributor of automobile textiles and interior parts for automobile.”

Entry Filed under: Equity Markets, NSE