Corporate News 04-Apr-18
Supreme Industries executes JV agreement with Kumi Kasei
To transfer auto comp business to JVC
Supreme Industries has executed definitive agreements with Kumi Kasei Co. (Kumi) and the Kumi Supreme India (JVC) on 4 April 2018, i.e. a Joint Venture Agreement and a Business Transfer Agreement, to record the terms and conditions of the transaction. The Auto Comp Business will be transferred for cash consideration of approximately Rs 108 crore. Further, the Company will hold 20.67% of the share capital of the JVC. The transaction is expected to close by June 2018.
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