With reference to the earlier announcement dated March 12, 2007 regarding Outcome of Board Meeting, wherein the Company had informed about the approval granted by the Board of Directors at its meeting held on March 09, 2007 for investment in overseas ventures, Zicom Electronic Security Systems Ltd has now informed BSE that in accordance with the said approval, the Company has set up a subsidiary in Honkong in the name of Zicom Manufacturing Co. (HK) Ltd with 76% shareholding.
Zicom Manufacturing Co. (HK) Ltd will promote international marketing and sale of Zicom branded products. This Company will also help Zicom, India to source equipments at the competitive price. In future, Zicom Manufacturing Co. (HK) Ltd will also engage in setting up of manufacturing facilities for Zicom's in-house developed products in China and other neighboring countries.
Labels: Zicom
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