Stone India executes technical collaboration with MZT Hepos AD, Italy

Stone India Ltd has announced that the Company has executed a Technical Collaboration Agreement with M/s. MZT Hepos AD, a subsidiary of Poli Construzione Materiali Trazione S.p.A., Italy for indigenous manufacturing & supply of latest generation Tread Brake Unit for Locomotives, Passenger Coaches & Metro Cars.

In the mean time the Company has received a development order from Indian Railways for manufacturing & supply of two sets of the Tread Brake Units for High Speed Electric Locomotives. Each is set valued at Rs 20.5 Lakhs.

The serial production of this product is likely to commence in the FY2007-08 at its upcoming new facility at Himachal Pradesh.

The agreement also provides scope of suitable buy back arrangement of the product by the collaborator at a future date.

Source : Equity Bulls

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