EPACK Durable Forges Key JV for Speaker & Soundbar Manufacturing 🔊
Big news from the world of consumer electronics manufacturing! EPACK Durable Limited (EPACK) has just announced a significant step in its growth journey, signing a Joint Venture (JV) Agreement with Bumjin Electronics Co. Limited, a renowned company from the Republic of Korea.
This strategic partnership, finalized on July 24, 2025, aims to establish a new JV company focused on the manufacturing and sale of SKD/CKD based television speakers and soundbars. Think e-commerce, other affiliated business operations – it’s all part of the plan to expand EPACK’s reach in the audio device segment. 🎧
What’s the Deal?
EPACK will hold a controlling stake of 66.67% in the new JV company, while Bumjin will hold the remaining 33.33%. The initial authorized share capital for this venture is set at a substantial INR 140,000,000 (Indian Rupees One Hundred and Forty Million), divided into 14,000,000 equity shares of INR 10 each.
Why This Matters for EPACK
This JV is a smart move for EPACK, aligning perfectly with its growth strategy. It’s expected to bring Bumjin’s world-leading manufacturing excellence in TV speakers and soundbar systems right here to India. For EPACK, this means leveraging its existing strengths in electronics manufacturing, R&D, supply chain, and distribution capabilities to tap into the growing market demand driven by smart home adoption and increasing audio device usage. 🏡
Beyond market expansion, this collaboration is poised to strengthen domestic value addition and capabilities for import substitution. It’s also a fantastic opportunity for technology transfer, knowledge sharing, and fostering innovation, ultimately aiming to cater to local customers and explore export opportunities. Talk about a win-win! ✨
Key Terms at a Glance:
- Board Representation: Bumjin will nominate two directors, while EPACK will appoint three directors to the JV company’s board.
- Strategic Decisions: Identified reserve matters will require the consent of both JV partners.
- Leadership: EPACK will select the business head, Bumjin will appoint the technical head, and the finance head will be mutually agreed upon.
As of the last market close, EPACK’s stock was trading at ₹358.8, seeing a slight dip of 0.3%. This JV announcement could be a key factor for investors to watch as the company continues to diversify its portfolio and enhance its brand visibility in the competitive consumer electronics space. Keep an eye on this exciting development! 📈
source: Corporate Announcement
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