Australian company to make India a key manufacturing base

Libcoin, which acquired the assets of Avass, its people and customer contracts on August 27, will focus on providing fully integrated electric transport infrastructure globally, including India.PTI | August 30, 2019, 22:40 IST

By Natasha Chaku

Melbourne: Newly-merged Australian company Libcoin Avass is planning to make India its key base by expanding its operations in the manufacture of buses, batteries and charging stations, top company officials said on Friday.

Libcoin, which acquired the assets of Avass, its people and customer contracts on August 27, will focus on providing fully integrated electric transport infrastructure globally, including India.

"The acquisition will greatly assist the trade relationship between Australia and India in line with the India Economic Strategy to 2035 Report recently released by Australian government," Muthuraj Guruswamy, CEO of the company, said.

It will also "help Libcoin to provide an integrated solution for batteries, electric vehiclemanufacturing and charging stations," he said.

Guruswamy said that the company would now look at the opportunities of expanding operations to India, seeing India as one of its key bases to manufacture buses, batteries and charging stations, aligning closely with the "Make in India" policy.

https://www.google.com.au/amp/s/auto.economictimes.indiatimes.com/amp/news/industry/australian-company-to-make-india-a-key-manufacturing-base/70915786

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We are led to believe that MNS has some ownership in LIBCOIN. Infact, when you google LIBCOIN the MNS headoffice comes up as the address. I don’t remember seeing any announcement from MNS regarding this article about acquiring Avass.

People wonder why the share price is 11cents. No one knows what is actually going on leaving the market dazed and confused.





imo dyor