Financial Daily
from THE HINDU group of publications
Friday, October 12, 2001
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Financial Daily from THE HINDU group of publications Friday, October 12, 2001 |
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Nilkamal ties up with US co
Our Bureau
MUMBAI, Oct. 11
THE City-based Nilkamal Plastics today announced a joint venture with Alcoa Closure Systems International (Alcoa CSI) of the US to produce plastic closures.
The joint venture company, set up with a capital of Rs 40 crore, is particularly targetting the beverage markets in India and Nepal. Plastic closures are used to bottle soft drinks, mineral water, fruit juices and beer among others and are currently impo
rted.
In the joint venture company, the US firm will hold majority stake of 76 per cent and 24 per cent will be held by two Nilkamal group companies -- Heirloom Finance Pvt Ltd and Nilkamal Builders Pvt Ltd -- according to a statement.
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