Mold-Tek Technologies Ltd enters into MOU with Affordable Robotic & Automation Ltd

As part of the Company's strategic business growth initiatives and the opportunities for enhancing operations globally, the Board of Directors has approved and decided to enter into a Memorandum of Understanding (MOU) with M/s. Affordable Robotic & Automation Limited (ARAPL). This MOU aims to establish a collaborative framework wherein MoldTek Technologies Limited (MTTL) will provide engineering design, simulation and digital automation services, in addition to marketing end to end service offerings in USA & European Markets. ARAPL will be responsible for robotics manufacturing, assembly, integration, control system implementation, and project execution for industrial automation and smart factory solutions.

This strategic partnership is intended to leverage the complementary strengths of both parties to expand market presence, with a particular focus on the United States, Europe, India and other international markets. MTTL can now offer complete Automation/Robotic end to end solutions to clients in USA & Europe through this MOU which will enhance its revenues.

The initial business plan outlined in the collaboration will be valid for three years from the date of execution of the MOU and may be extended upon mutual agreement between ARAPL and MTTL.

Shares of Mold-Tek Technologies Limited was last trading in BSE at Rs. 159.25 as compared to the previous close of Rs. 160.75. The total number of shares traded during the day was 28859 in over 1770 trades.

The stock hit an intraday high of Rs. 165.50 and intraday low of 156.45. The net turnover during the day was Rs. 4606705.00.

Source : Equity Bulls

Keywords

MoldTekTechnologies INE835B01035 MOU AffordableRoboticandAutomation