NEW DELHI: Usha Martin International Limited (UMIL) has incorporated a wholly-owned subsidiary, Usha Martin Espana, SL, in Spain.

Usha Martin Espana, SL will work in the area of distribution, manufacturing, sale and application of metallurgical products, high-performance wire ropes, LRPC strands, wires, pre-stressing accessories, machinery and cables, Usha Martin said in a regulatory filing on Tuesday.

“Usha Martin Espana, SL has been formed as a wholly owned subsidiary of Usha Martin International Limited (UMIL), a wholly owned subsidiary of Usha Martin Limited,” it said.

UMIL has subscribed to the share capital of euros 3,000, with a face value of euro 1 per share. UMIL holds 100 per cent of the paid-up share capital of Usha Martin Espana, SL.

Usha Martin Ltd is a leading global manufacturer of wire ropes with manufacturing facilities in Ranchi, Hoshiarpur, Dubai, Bangkok and the UK.