Briefing reporters, Centum Electronics Managing Director Apparao Mallavarapu said Centum will hold 51 per cent stakes in the joint venture — Centum Rakon Pvt Ltd, and Rakon the rest.
“Racon will have exclusive rights to sell products manufactured by the joint venture outside India and Centum within India,” he added.
Meanwhile Rakon Brent Robinson said, “This gives us considerable confidence that the JV will provide both Rakon and Centum with the opportunity for substantial revenue growth.
The JV would settle in late March with the manufacturing of selected products, currently being undertaken in France, moving to India over a six-month period of time.
