Apar Industries (AIL) has entered into a joint venture agreement (JVA) with PPS Motors (PMPL) and Other. The purpose of JVA is to incorporate a company in the name of ‘Ampoil Apar Lubricants’ (AALPL).
AALPL will market Lubricants in the AMPOIL Brand which is a brand owned by PPS Business Solutions. The focus will be to sell Lubricants to State Government, Central Government, Public Sector or Semi-Government, Defense and Original Equipment Manufacturers. The share of the company in the Joint Venture is 40%. There is no impact on management and control of the company.
Apar Industries is engaged in the manufacturing of transmission & distribution overhead conductors transformer and specialty oils and power and other cables. It has three broad business segments - Transformer and Speciality Oils (TSO) segment, conductors segment and cables segment.
