Everest Kanto Cylinder Limited — Important, 16-07-2025: General Updates

EKC's wholly-owned subsidiary, EKC International FZE, Dubai, has decided to exit its planned manufacturing project in Hungary. Citing the geopolitical situation, EKC FZE will sell its 80% stake in the joint venture, EKC Europe Zrt., to its Hungarian JV partner for 96,000 EUR. This strategic move aims to consolidate losses and withdraw from the Hungary project, allowing the company to streamline operations and re-evaluate its international expansion plans. The sale signifies a shift in business focus, moving away from a previously planned venture.