Kirloskar Oil Engines has entered into an MoU ( Memorandum of Understanding) with Axial Vector Energy Corporation to explore the possibility of co-operation in the joint development of engines programme for mass production of internal combustion engine by using its technology of AVEC. Kirloskar will also use marketing, engineering and manufacturing expertise of AVEC for the same.
In a communication to the exchanges, the company said that it may form a joint venture company for manufacturing and marketing of the engines subject to technical and finacial feasibility and necessary approvals.
