Tecpro Systems has soared up to 20% at Rs 88.50 in noon deals on BSE after the company said it has entered into a license agreement with a wholly owned subsidiary of Mitsubishi Heavy Industries for manufacturing of electrostatic precipitator.
“On May 13, 2013, the company has entered into a license agreement with Mitsubishi Heavy Industries Mechatronics Systems (MHI-MS) of Kobe, Japan, a wholly owned subsidiary of Mitsubishi Heavy Industries to exclusively collaborate for manufacturing of electrostatic precipitator (ESP) for the Indian market and jointly market their combined expertise in India,” Tecpro Systems said in a statement.
“On May 13, 2013, the company has entered into a license agreement with Mitsubishi Heavy Industries Mechatronics Systems (MHI-MS) of Kobe, Japan, a wholly owned subsidiary of Mitsubishi Heavy Industries to exclusively collaborate for manufacturing of electrostatic precipitator (ESP) for the Indian market and jointly market their combined expertise in India,” Tecpro Systems said in a statement.
Under this collaboration, MHI-MS shall provide technical support including design and drawings, material procurement, ESP manufacturing procedures, quality control, engineering expertise and training to Tecpro Systems.
The ESP will be branded as manufactured by Tecpro Systems under technical collaboration with MHI-MS, it added.
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The stock opened at Rs 74.40 and has seen a combined 75,407 shares changing hands on the counter so far on BSE and NSE.