Voltas gains as co enters into distribution agreement with Japanese firm

Shares of Voltas gained over 1 percent in the early trade on Tuesday after company entered in to distribution agreement with a Japanese textile machines manufacturer.

The air conditioning manufacturer Voltas and Shima Seiki Mfg. Ltd., a leading Japanese textile machines manufacturer, have entered into a distribution agreement for sales and marketing of Shima's products in India, as per Voltas press release.

This co-operation is expected to strengthen both Voltas and Shima's reach across the rapidly expanding Indian textile industry, it added.

C. Kamatchisundaram, Vice President-Textile Machinery Division, Voltas added, "This association would help us to offer truly world class solutions in flat knitting, WHOLEGARMENT making process and Total Fashion Systems to the textile industry."

"Voltas' sales and marketing strengths combined with leading edge products from Shima Seiki Mfg. would make this a preferred choice for customers from the Indian textile industry," he added.

At 09:26 hrs Voltas was quoting at Rs 616.25, up Rs 5.05, or 0.83 percent on the BSE.