Readymade Steel India Ltd has informed BSE that the board of directors of the company at its meeting held on November 14th 2011 inter alia, transacted the following

The company has set up a wholly owned subsidiary company named 'READYMADE STEEL SINGAPORE PTE LTD, Singapore to explore related business opportunities in Singapore and overseas market. The Board authorized Mr. Anil Agrawal, Managing Director of the Company to explore such opportunities, conduct initial assessment including funding requirement and take necessary steps for augmentation of company's business interest in the overseas market.

The board noted that, the company has identified "CABR Technology Co Limited", China as its potential Joint Venture partner and is in advanced stage of discussing a proposal to jointly undertake manufacturing of mechanical splicing system & couplers in India and marketing of the same in India as well as specified territories aboard.