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Minaean Enters into Joint Venture with Tolar Manufacturing Co., USA for Construction of Stainless Steel Transit Shelters in New Delhi, India
Minaean Enters into Joint Venture with Tolar Manufacturing Co., USA for Construction of Stainless...
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[{"type":"text","content":"\nMinaean Enters into Joint Venture with Tolar Manufacturing Co., USA\nfor Construction of Stainless Steel Transit Shelters in New Delhi, India\n\n\n Oct. 28, 2009 (Filing Services Canada) -- Minaean International Corp. (MIB - TSX Venture, NJA - FWB, NJA - BSE), a Canadian-based developer of alternative building technologies using light-gauge steel (\"LGS\"), is pleased to announce that its wholly owned subsidiary, Minaean Habitat India Pvt. Ltd. (\"MHI\"), has entered into a Joint Venture Agreement with Tolar Manufacturing Co. Inc. (\"Tolar\"), of Corona, California, USA, to pursue construction opportunities for stainless steel transit shelters, more commonly known as Bus Queue Shelters (\"BQS\"), in the capital city of India, New Delhi. The Joint Venture is a strategic move to meet stringent tender requirements and successfully bid for a contract from the Delhi Transport Corporation to build and deliver 500 BQS in various spots around New Delhi. Over the past two years, Minaean has been able to build a strong competitive advantage in the Indian BQS market with its quality and cost effective solutions. The Company has constructed over 350 such BQS in the previous fiscal year and is an emerging market leader in the industry. This Joint Venture is yet another step in furthering Minaean's footprint and strengthening its position in the Indian BQS market. MHI has already submitted bids for the tender and has qualified as a prospective candidate after passing the initial technical qualification stage. These stainless steel bus queue shelters would be fabricated and designed in-house as per the designs solicited by the Delhi Transport Corporation, pre-fabricated in Minaean's Mumbai plant, and then shipped to New Delhi for installation under the supervision of MHI engineers.The Joint Venture encapsulates MHI's proactive strategy of branding itself as a leading provider of BQS and other Street Furniture in the Indian market. India's economic growth remains robust despite the global economic slowdown, and the government continues to make heavy investments in infrastructure development, including installations of thousands of BQS and street furniture on its roadways.Tolar Manufacturing Company, Inc. has been in operation since 1991, manufacturing and supplying best-in-class bus shelters, street furniture and display structures to Transit...