Syrma SGS Technology (NSE:SYRMA, BOM:543573), along with its wholly-owned subsidiary, Syrma Strategic Electronics, agreed to set up a joint venture with South Korea's Shinhyup Electronics, according to a Tuesday filing to the Indian stock exchanges.
The joint venture will deal in the manufacturing of multi-layer printed circuit board (PCB) including flexible PCBs and similar other products.
Under the terms of the agreement, the company will initially hold 75% shareholding in the proposed joint venture company, while Shinhyup will hold the remaining 25%.
The company's shares were up over 1% in recent trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.