Heidelberger Druckmaschinen Aktiengesellschaft (HDD.DE), Wednesday announced a decision to establish a corporate joint venture in Germany with the U.S.-Israeli company Ondas Autonomous Systems Inc., a subsidiary of Ondas Holdings Inc.
The joint venture, in which Ondas will hold a 51 percent stake and Heidelberger the remaining 49 percent, will commence immediately, starting with expanded marketing of Ondas products in Germany and Ukraine.
Additionally, the companies plan to expand sales across Europe, further develop the products stepbystep for local assembly and manufacturing based on European supply chains, and industrialize production.
Heidelberger's stock is trading at 1.45 euros, up 9.67 percent on the XETRA.
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