Feb 1 2011
Elektro Anlagen, supplier of automation solutions, has made a joint venture with Kasa Companies to include Kasa as its financial collaborator. As per the agreement, Elektro Anlagen will be named as Kasa Anlagen and will supply automation and electrical solutions to several segments.
In the joint venture, 30% of stake will be held by Kasa and it may be increased to 50% in another few years. The promoters of Elektro Anlagen headed by Sundarram Balaji, Managing Director, will hold the remaining stake. It was reported that this initiative will enable Elektro Anlagen to widen its international presence and provide new industrial solutions.
The joint venture was mediated by Worbus International. The new board of Kasa Anlagen will include two directors from KASA, three from Elektro Anlagen and one from Worbus International.
George Molakal, International Director of Worbus International, has stated that their representation on the new board is to support the two collaborators for smooth functioning of the company. It was reported that Worbus’ representation on the new board will continue for another five years.
Source: http://www.elektroanlagen.co.in