NEW DELHI: Homegrown wire ropes manufacturer Usha Martin on Saturday said it has incorporated a step-down joint venture subsidiary company in Saudi Arabia.
Brunton Wire Ropes Industrial Company Ltd will carry distribution, manufacture, sale, and application of wire ropes, slings and allied products, Usha Martin said in a regulatory filing.
The entity was incorporated on November 10, the filing said.
"Brunton Wire Ropes FZCo. (BWR), a subsidiary of the company, has incorporated a joint venture namely Brunton Wire Ropes Industrial Company Ltd in the Kingdom of Saudi Arabia. Consequently, Brunton Wire Ropes Industrial Company Ltd has become a step-down joint venture of the company," it said.
Two directors and one of the promoters of Usha Martin are board members of BWR, the filing said. Usha Martin is a leading global manufacturer of wire ropes.
Usha Martin's wire rope manufacturing facilities in Ranchi, Hoshiarpur, Dubai, Bangkok, and the UK produce the widest range of wire ropes that find application in various industries across the world.