January 28, 2020
Brazilian firearms manufacturer Taurus Armas said on Monday that it formed a joint venture to make and sell guns in India with local steelmaker Jindal Group after almost a year of negotiations.
Jindal will own 51% of the new company, while Taurus will have the other 49%, according to a securities filing.
Taurus announced in February 2019 that it had signed a memorandum of understanding to discuss a joint venture with a "large company" in India's steel sector. It extended the talks in August and
Brazilian gunmaker signs an agreement with local steelmaker Jindal Group after almost a year of negotiations