New Delhi, Sep 26 (PTI) Writing instruments maker Linc Ltd on Thursday said it has formed a joint venture with Japan's Mitsubishi Pencil Co to introduce advanced technology and produce products tailored for Indian consumers.
While Mitsubishi Pencil will bring its advanced technology, Linc with over 30 years of exclusively distributing Mitsubishi's 'Uni' and 'Uniball' pens, will leverage its sales and distribution expertise across India to market the products, the company said in a regulatory filing.
Mitsubishi Pencil Company will hold 51 per cent stake in the new JV and Linc will have the rest 49 per cent. The JV is scheduled to start operations from January 2025, the filing said.
"This joint venture allows us to offer advanced Japanese technology at more affordable price points, creating a unique synergy between innovation and market expertise," Linc Ltd Managing Director Deepak Jalan said.
The partnership will open up new avenues in global markets as well, he added.
The JV will also serve as a platform for exporting products to international markets served by both Mitsubishi and Linc. Besides, it will explore sourcing certain raw materials locally to further reduce costs while maintaining the world class standard, the company said. PTI RKL ANU ANU
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