Grindwell Nor­ton: New prod­uct with Ja­pan co

The Hindu Business Line - - STOCKS -

The Board of Grindwell Nor­ton on Fri­day ap­proved the es­tab­lish­ment of a Lim­ited Li­a­bil­ity Part­ner­ship (LLP) en­tity in In­dia with Shi­na­gawa Re­frac­to­ries Co Ltd, Ja­pan, to man­u­fac­ture tap hole clay re­frac­tory prod­ucts for the steel in­dus­try. Grindwell Nor­ton will hold 49 per cent in the LLP. The ini­tial in­vest­ment by the com­pany will not ex­ceed ₹15 crore, it said, and added the es­tab­lish­ment of the LLP is sub­ject to the con­clu­sion and sign­ing of de­fin­i­tive agree­ments.

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