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Aditya Birla Group’s flagship company Grasim Industries has entered into an agreement with Japanese firm Omikenshi to develop new international markets for rayon products. Omikenshi is listed on the Tokyo Stock Exchange.
Under the terms of the agreement, Omikenshi and Grasim are to develop the technology together and manage the increased production anticipated as they enter new markets, the company said in a filing with the NSE.
However, the financial details of the agreement were not stated in the filing. No mention was also made of the countries the companies want to enter.
In addition to specific products at the core of the agreement, the two companies are to also explore future collaboration through a joint research and development programme.
Grasim Industries stock closed the day at Rs 3,036.30, up by Rs 23.35 or 0.77 per cent.
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