Pennar Industries, a leading engineering and manufacturing company, has entered into a Joint Venture Agreement with Zetwerk Manufacturing Businesses and other stakeholders. The agreement, signed on December 31, 2024, represents a strategic collaboration aimed at establishing a dedicated joint venture company for the production and sale of solar modules.
The shareholder details in the proposed Joint Venture Agreement will be as follows.
- Zetwerk Manufacturing Businesses – 50.1%
- Pennar Industries – 45.0%
- Others – 4.9%