WAVESAPP receives strategic alliance intent from global player

July 29, 2024 (MLN): Waves Home Appliances Limited (PSX: WAVESAPP) has received an intention for Strategic Alliance/JV from a foreign global player.

The company shared the development in its notice to the Pakistan Stock Exchange (PSX) on Monday.

Accordingly, the company has initiated discussion to develop a comprehensive business model that covers among other things, provision of technical know-how, engineering personnel, use of their brand name by the company in domestic as well as in export markets, management sharing structure and the amount of investment to be brought in.

Formal agreement will be signed on finalisation of these discussions, reads the notice.

The primary benefits to the company from this alliance will be access to advanced technology, expertise and know-how to enhance its product quality, cut down production costs, and implement technical and operational best practices, along with the ability to procure cheaper materials, the company said.

This will give the  ompany competitive edge in local as well as international markets, it added.

The foreign partner, taking benefit of cheaper labour and freight cost savings from Pakistan will have competitive edge in Middle Eastern, African, and European markets, it further said.

Copyright Mettis Link News