Voltas transfers forklift business

News Story
- 5 May 2011 ( #512 ) - Mumbai, India
1 min read
Voltas Ltd has received INR1.1 billion (USD24.7 million) after transferring its materials handling business to its joint venture company JM Material Handling Solutions Pvt Ltd.

JM Material Handling is a joint venture between Voltas and Linde Material Handling Asia Pacific Pte Ltd, a KION Group affiliate, which has a majority stake in it.

A Reuters report said there were plans to rename the joint venture company Voltas Material Handling Pvt Ltd.

The report also said Voltas has entered into a supply agreement with the joint venture for forklifts and warehousing equipment to be manufactured at its Thane plant, in Maharashtra, and has granted a licence to the joint venture company to use the Voltas brand name.

Forkliftaction.com News contacted Voltas for details of the transfer but did not receive a response by press time.
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Previously about:
KION Group strengthens market position News Story - 31 Mar 2011 - Wiesbaden, Germany - 2 min read
KION Group has sixth forklift brand with joint venture News Story - 24 Mar 2011 - Wiesbaden, Germany and Mumbai, India - 3 min read
Indian academy seeks global forklift partners News Story - 22 Jul 2010 - Pune, India - 2 min read
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