Universal Cable, Furukawa Electric join hands

April 21st, 2009 - 7:29 pm ICT by IANS  

Kolkata, April 21 (IANS) Power cable manufacturer Universal, an M.P. Birla group company, has signed a pact with the Japan-based Furukawa Electric for manufacturing and marketing optical fibre in India.
“By combining the pre-eminent position of the M.P. Birla Group in optical fibre and cable business in India, with significant experience and technical expertise of Furukawa, we will bring our customers a strong product,” D.R. Bansal, Chief Mentor and chief executive officer of UCL said in a statement here Tuesday.

As per the agreement, the joint venture company shall have 55 percent shareholding by Universal and affiliates and 45 percent by Furukawa and its associates.

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