2:21 PM (MON): Voltas decides to transfers its MH business to a JVC

Mumbai, May, 2, (EPC News):  Voltas Ltd transferred its Materials Handling (MH) business to a joint venture company (JVC) SM Materials Handling Solutions Private Limited, who are tied with Linde Material Handling Asia Pacific Pvt. Ltd, an affiliate of KION Group, Germany.

Voltas received a consideration of Rs110 crore for its business transaction. The proposed transaction will lead towards a change in JVC as Voltas Material Handling Private Limited. Linde Material Handling Asia Pacific PVt. Ltd. will be leading the venture with majority equity share. The host company also entered into a Supply Agreement with JVC for forklifts and warehousing equipment which will be manufactured at its Thane plant. The deal further allows JVC to use ‘Voltas’ brand for forklifts and warehousing equipments.

EPC News Bureau