Zicom Electronic Security Systems has announced its joint venture with CNA Group, Singapore, to offer integrated intelligent building management solutions and green buildings in India. This move is in line with its business objective of accelerating growth to ramp up its strategic focus on developing expertise on integrated building management solutions and green buildings with control and automation.
As per the MOU, Zicom will acquire 51% stake and CNA Group will have 49% stake in the joint venture company named as Zicom CNA Automation.The intended relationship with CNA aims to leverage on the enormous growth potential of the booming real estate market in India by providing integrated facilities management solutions and services to residential, industrial commercial and Government construction.Against this scenario, Zicom''s comprehensive network of sales offices in more than 60 cities in India and long experience therein, positions it advantageously to leverage on the construction demand in India.
In addition, Zicom will also provide financial support for all projects that are procured under the proposed Zicom CNA Automation Ltd. On the other hand, CNA will provide sales and marketing support and will also be responsible for the training and development of personnel.The company made this announcement during the trading hours today, 03 April 2008.
As per the MOU, Zicom will acquire 51% stake and CNA Group will have 49% stake in the joint venture company named as Zicom CNA Automation.The intended relationship with CNA aims to leverage on the enormous growth potential of the booming real estate market in India by providing integrated facilities management solutions and services to residential, industrial commercial and Government construction.Against this scenario, Zicom''s comprehensive network of sales offices in more than 60 cities in India and long experience therein, positions it advantageously to leverage on the construction demand in India.
In addition, Zicom will also provide financial support for all projects that are procured under the proposed Zicom CNA Automation Ltd. On the other hand, CNA will provide sales and marketing support and will also be responsible for the training and development of personnel.The company made this announcement during the trading hours today, 03 April 2008.
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