Emco, South African co enter JV for transformers

MUMBAI: Emco has entered into a memorandum of understanding for joint venture partnership with a South Africa based company, Edison Power for manufacturing and marketing transformers in South Africa.

The joint venture is to be named as Emco-Edison Transformers Africa, in which EMCO will holding 51 per cent stake and balance by Edison.

"Emco is aiming to achieve 30 per cent of turnover from Exports. Edison Group of companies has ample resources and vast experience in handling all type of electrical installation projects in substation and transmission sector. Partnership with Edison corporation perfect synergetic alliance and both of us are poised to gain from Power sector boom in the region," said Rajesh Jain, Chairman, EMCO.

On Wednesday, EMCO shares closed down 1.28 per cent at Rs 1,187 on BSE.