| <p>Airfloa Rail Technology Limited, formerly Airflow Equipments India Pvt. Ltd., announced it has entered into a memorandum of understanding with Acme India Industries Limited to jointly participate in a tender floated by Konkan Railway Corporation Limited for repairing of wagons. The joint venture, named "Acme & Airfloa JV," will have Acme India Industries Limited holding 51% and Airfloa Rail Technology Limited holding 49%. Additionally, Airfloa Rail Technology Limited is exploring the potential acquisition of the business of KIN Railway Equipment Private Limited in Coimbatore through a slump sale or asset purchase, subject to due diligence and regulatory approvals.</p> |