Jul. 12, 2019 - Further to the letter dated November 9, 2018 and post evaluation of various statutory regulations and requirements, Grindwell Norton has executed a definitive Agreement with Shinagawa Refractories Co. Ltd, Japan on July 11, 2019, to form a Private Limited Company for Tap hole clay refractory products for the steel industry. 

Grindwell Norton will hold 49% and Shinagawa Refractories Co. Ltd., Japan will hold 51% in the Private Limited Company.

On November 9, 2018, the Board of Directors of Grindwell Norton Ltd approved, subject to the conclusion and signing of definitive agreement(s), the establishment of a Limited Liability Partnership (LLP) entity in India with Shinagawa Refractories Co Ltd, Japan to manufacture Tap hole clay refractory products for the steel industry. Grindwell Norton Ltd will hold 49% and Shinagawa Refractories Co Ltd, Japan will hold 51% in the LLP. The initial investment by the Company in the LLP will not exceed Rs 15 crore. Establishment of the LLP is subject to the conclusion and signing of definitive agreement (s).