Nadex establishes Indian JV for welding solutions expansion

Nadex has announced the establishment of a joint venture in India with Denyo Kogyo, aimed at expanding its welding solutions business. The JV, to be named later, will be headquartered in Gurugram, Haryana, and will see Nadex hold a 49% stake. The initial investment in the new entity is INR 360 million, with operations expected to commence in December 2025. Nadex will invest through a newly formed subsidiary, holding 99% of the subsidiary. The joint venture will also acquire the business operations of Denyo India Pvt. Ltd., a subsidiary of Denyo Kogyo, to secure talent and operational capabilities. The strategic move aligns with Nadex's long-term vision of focusing resources on high-growth markets and leveraging Denyo Kogyo’s expertise to offer comprehensive welding solutions in the Indian market. Nadex does not expect the JV to impact its FY2025 consolidated earnings.