News

Austria’s Jaffra to set up JV in India

07/04/2006

Chennai-based Farida Group has signed an agreement with Jaffra of Vienna, Austria, to set up a joint venture to manufacture insoles for high end ladies’ shoes in Chennai. The factory that will be established in in Ambur, in the North Arcot district, will have the capacity to produce over 30,000 pairs of insoles per day. Farida will hold a 60% interest in the venture and Jaffra will hold 40%.

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