Elgi Equipments establishes US joint venture firm – Gentex Air Solutions
Elgi Equipments, an Indian air compressors manufacturer, said that its fully-owned subsidiary – Elgi Compressors USA has established a joint venture (JV) firm in the US with James Gery and Diego Hernandez.
The joint venture has been incorporated as Gentex Air Solutions as a North Carolina Limited Liability Company.
Elgi Compressors USA has invested $95,000 in the share capital of Gentex Air Solutions, which will host the sales force for the Dallas, Texas area with an aim of promoting the ELGi rotary and screw compressors in the region.
The joint venture will also be engaged in offering demolition hammers, hydraulic hammers, and any other operating or handling machinery, machines.
Elgi Compressors USA will have a stake of 33.3% in the JV. James Gery and Diego Hernandez will each hold a stake of 33.3% in Gentex Air Solutions.
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