News: Raymond unit forms joint venture with U.S. firm

(BL 13/12/2006) Mumbai - The suit and apparel maker Raymond Ltd said on Wednesday that one of its units had agreed to form an equal joint venture with the US-based AJ Rose Manufacturing Co to set up a facility in India for making sheet metal components.

The facility would have an initial project cost of Rs 16.6 crore, the company said in a statement.