DCM Shriram Industries enters into agreement with Zyrone Dynamics
18th Aug 2021

DCM Shriram Industries has entered into an Agreement with Zyrone Dynamics Havacilik Danismanlik Ve Ar-Ge San. Tic. A.S., a company incorporated and existing under the laws of the Republic of Turkey. The said company is engaged inter alia in the manufacturing and marketing of UAVs of different types. 

As per the Agreement, the company would subscribe to 30% of the capital of the foreign company comprising of 25715 shares at a total investment of just over $1.05 million in five tranches over a period of about a year, subject to necessary approval with regard to foreign investment under FEMA Regulations.  Zyrone Dynamics will provide to the Company technological support for two variants of UAVs at different times during the subscription period and both the parties will support each other in marketing the products in India and globally.  

DCM Shriram Industries is based in Northern India with a portfolio of products comprising of sugar, alcohol, fine chemicals and rayon tyrecord. The company has a strong emphasis on technology and quality as also a strong commitment to environmental & social concerns.