Universal Cables inks ‘JV pact’ with Japan-based Furukawa Electric

Universal Cables, part of the M P Birla group, has informed that it has signed a JV pact with Japan-based Furukawa Electric Co. Ltd.

Under the arrangement, Universal Cables, in technical and financial collaboration with The Furukawa Electric Co. Ltd, Japan, would incorporate, establish operation of a Joint Venture Company, for manufacture of Optical Fibre and allied businesses in the country.

According to an official release, the company will be incorporated with an authorized capital of Rs 200 million.

Universal Cables Limited engages in the manufacture and sale of power cables, capacitors, and optical fiber in India and internationally.

The scrip of the company today closed at Rs 41, up 3 per cent compared to previous close of Rs 40.