Kody Technolab Limited — Important, 26-12-2024: Agreements

Kody Technolab Limited has entered into a Joint Venture Agreement with Platinum Group for Businessmen Services L.L.C to establish a new manufacturing company focused on producing robots in the UAE. This venture aims to export "Made in UAE" robots to other GCC countries and the Middle East, catering to local industries across various sectors, including retail, government, and defense.

Under the agreement, Platinum will hold a 60% share, while KTL will own 40%. KTL will supply advanced robotic components and software, contributing technical expertise and capital, while Platinum will provide market knowledge and facilities for the new operation. This strategic tie-up positions Kody Technolab to enhance its market presence and leverage growth opportunities in the robotics sector, suggesting a positive outlook for potential expansion and revenue generation in the region.