Voltas has decided to form a joint venture with German-based Linde Material Handling GmbH (LMH), a part of KION Group, for materials handling business.
“After completion of the deal, Linde's material handling operations would be transferred to a JV company, where LMH would hold majority shareholding, Voltas said in a release.
“The Company would also enter into a supply agreement with the JVC for forklifts to be manufactured at Thane Plant (in Maharashtra) and grant license for use of 'Voltas' brand for forklifts for a period of 5 years on certain conditions,” the company said in a statement.