Mumbai: Trailer maker ANG Auto on Moday said that it has entered into a joint venture (JV) with TowerWorx USA to produce and market mobile tower solutions in India.
The JV — TowerWorx India (P) Ltd — would start operations in India from August, ANG Auto said in a filing to the Bombay Stock Exchange (BSE).
Both the companies — ANG Auto and TowerWorx USA — would have 50% stake in the JV.
The JV would bring substantial technological benefit to the mobile telecom companies in terms of multiple carrier capability and rapid deployment capability of the towers, the filing added.
TowerWorx is one of the largest mobile tower producer in the US having a large consumer base across the globe, including AT&T, T Mobile and Verizon.
Shares of the company were trading at Rs54.85, up 0.37% on the BSE.