Kaashyap Technologies - Outcome of Board Meeting
Kaashyap Technologies Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 03, 2008 has discussed the following:
The management placed before the Board the proposal to enter into a Joint Venture with the
Australian based Company Ansa Global based out at 9, Loftus Street, Leedeville, WA, Perth, Australia, engaged in security products and solutions for the public and private sectors. The Board was apprised that Ansa Global was founded in 1985 and has grown to become one of the leaders in the Australian Security Industry.
The Board after discussing about the business prospects that would be resulting from the Joint Venture, approved the proposal.
The Board further authorised a Committee consisting of Mr. Sanjay Bhardwaj, CEO, Mr. Chandrasekher, Head ? SAP and Mr. R Dakshinamurthy, Director to proceed for further discussions with the Australian Company to finalise the Joint Venture with the Company.
The Board was ensured by the management that the Company is slated to achieve a turnover of Rs 50 Crores in security products / solutions by 2008-09 out of the total market size of Rs 1850 crores and were confident that the approved joint venture with Ansa Global who are into security products would contribute to achievement of corporate goals in a faster pace.
This Joint Venture would result in setting up a Central Control Centre which would monitor and support the surveillance and security breaches at the customer locations. The products proposed to be offered through the Joint Venture are as follows:
i. Metro Projects at Chennai, Delhi, Hyderabad etc.
ii. Large Townships
iii. Large Hospitals and Hotels
iv. Large Retail Chains.
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