Shilp Gravures inks JV Agreement with Re S.p.A. Controlli Industriali
Written by Vijay   
Wednesday, 20 April 2011
Mumbai: Electro-Mechanical Engraving major, Shilp Gravures Limited has entered into a JV agreement with Re S.p.A. Controlli Industriali of Italy. A new entity with the name of ReShilp Equipments (India) Private Limited will be incorporated which be primarily involved in manufacturing, purchasing, selling, assembling, altering, establishing, renovating and reconditioning of all types of Web Control & Reel Management Systems and other related plants, machineries, equipments and devices.

Re S.p.A. Controlli Industriali will hold 49% of the equity share capital of the new company while Shilp Gravures Limited will hold 51% of the equity share capital of the company.

The board of directors of the new company will comprise 3 directors nominated by Re S.p.A. Controlli Industriali and 2 directors nominated by Shilp Gravures Limited.

Shilp Gravures has partnerships with Re-Controlii Industriali, Ligum, Scientex Berhad ( Mitsui Group ), C.B.G ACCIAI, Zenith Cutter Co., Shilp Ultra-Tech. It's plants are located at Kalol in Gujarat.

Re S.p.A. Controlli Industriali of Italy has been producing equipments for the laminating working process since 1974. The company supplies the converting, paper, wire, plastic & rubber, textile markets.

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