Ravin Cables forms Joint Venture with Prysmian Group

摘要

Ravin Cables Ltd, a leading player in the domestic power cable segment signed a JV with Prysmian Group, a world leader in the energy and telecommunications cables industry for manufacture of all kinds of LV, MV, HV, EHV and other speciality cables in India. Prysmian Group has taken a 51% stake in Ravin Cables Ltd with 49% in the new JV remaining with the current promoters. Vijay Karia continues to be the Chairman & MD of the JV. With a turnover of around Rs 310 Crores in FY 2008-2009 and EBITDA of Rs 36 Crores, Ravin Cables Ltd is one of India's most competitive and reputed cable manufacturers having a range that includes low and medium voltage cables. Ravin Cables Ltd has a 4% market share, which it intends to scale upto 10% in the next 3 years. Apart from its principal manufacturing facility in Pune, Ravin Cables Ltd is also present in Fujairah, UAE with the company Power Plus Cable Co.