The company has informed that it has formed a Joint Venture (JV) Company with Corrocoat Ltd, England to manufacture and sale Anti-Corrosive Products, by hiving off its Anti-Corrosive Products Division. A new Company has been incorporated with the name as "Kirloskar Corrocoat Pvt Ltd". The Company alongwith other Kirloskar Group Companies will have total share of 65% and other partner, Corrocoat Ltd will have 35% share, in the share capital of the new joint venture Company.