Raymond has signed a joint venture (JV) agreement with MOB Outillage SA, France in accordance with its board approval at its meeting held on April 28, 2005.According to a release issued by Raymonds to the BSE, the company, as per the agreement, would manufacture files and rasps in India at a total project cost of Rs 21 crores while MOB, France will hold 10% stake in the JV.
