Waves mulls joint venture with foreign investor

KARACHI: Waves Home Appliances Ltd (WHAL) has received a foreign player’s intention to form a strategic alliance.

In a stock filing on Monday, the company said it had initiated discussions to develop a comprehensive business model that covers, among other things, the provision of technical know-how, engineering personnel, the use of the company’s brand name in domestic and export markets, management structure sharing, and the amount of investment to be brought in.

The company said formal agreements will be signed on finalising these discussions.

The primary benefit of this alliance will be access to advanced technology, expertise, and know-how to enhance product quality and reduce production costs.

Published in Dawn, July 30th, 2024