Modison Metals to float joint venture for tungsten metal products

Modison Metals Limited’s board of directors has given approval to initiate the process of forming a joint venture company.

The new venture will be formed as a subsidiary company of Modison Metals Limited to manufacture tungsten metal products.

Also, the board has authorised G L Modi or Rajkumar Modi or Kumar Jay Modi to invest up to Rs 7 crore in the joint venture company and to sign related documents to complete the procedure.

Modison was founded as a trading unit in 1965, by G L Modi, to deal in tool steels and export of engineering and general merchandise.

A decade later in 1975, G L Modi established the first manufacturing facility in Mumbai (Bombay) for refining of silver and started exporting large quantities of refined silver to renowned bankers and dealers in Europe and USA.

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