Greenply Industries on Wednesday announced the incorporation of its joint venture with Alkemal Singapore Pte Ltd as private limited company in Singapore.

In a statutory filing to the stock exchange, it said Greenply Alkemal was an equally joint venture company. Subject to necessary regulatory approvals, the new company would acquire and own 100 per cent share of Greenply Industries (Myanmar) Pvt Ltd, which was incorporated as a wholly-owned subsidiary of Greenply Industries for setting-up a veneer or veneer-cum-plywood unit in Myanmar.

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