Interarch JV with ER Steel Canada for North American OWSJ market

Interarch Building Solutions board approved a Joint Venture with ER Steel Inc., Canada to design, manufacture and supply Open Web Steel Joists (OWSJ) for USA and Canadian markets. Initial investment of INR 80 Crores with equity split of 76 percent Interarch and 24 percent ER Steel. Funding in 3 equal tranches after 25 percent initial contribution. ER Steel handles sales and marketing in North America while Interarch leads manufacturing from India. Target is 2 to 5 percent market share in 3 years.