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According to the agreement, the two partner companies have created a new company, Tecnocap Oriental Pvt., based in Mumbai, controlled at 75% of the share capital by the Tecnocap Group through the acquisition of the Metal Lug business of the Indian partner Oricon, which will hold the remaining 25% of the Company.
“This joint venture marks our full entry into the Indian and Far Eastern markets and represents a key stage in our international growth strategy, achieved through business diversification and expansion towards high growth markets”, comments Michelangelo Morlicchio CEO, shareholder and founder of Tecnocap who continues: “beyond seizing the great opportunities for market growth, this alliance gives us the chance to exploit mutual synergies to operate successfully thanks to the highest quality products, services and logistics.”
