Ways2Capital Equity Update : Escorts Slips 3.5%; Company Enters In JV With Japanese Firm

Shares of Escorts shed 3.6 percent intraday Monday. The company board approved the joint venture with Kubota for manufacturing of high-end tech tractors.

The company board approved setting up of joint venture between company and Kubota Corporation, Japan for technology collaboration and joint manufacturing of high-end, value -oriented utility tractor range.

With an initial investment of Rs 300 crore, the 60:40 manufacturing joint venture between Kubota and Escorts respectively will enables both partners to optimize and their current and future capabilities in the segment globally.

The company has executed the business transfer agreement for transferring the existing RT crane business of the company as a going concern on a slump sale basis to the JV for an amount not exceeding Rs 350 million.
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