New Delhi-headquartered ANG Auto has informed that it has entered into a joint venture with TowerWorx USA, to produce and market mobile tower solutions in the country.

Under the arrangement, both the companies will have 50 per cent stake in the joint venture christened 'TowerWorx India (P) Ltd'.

Both partners believe that, the joint venture would bring substantial technological benefit to the mobile telecom companies in terms of multiple carrier capability and rapid deployment capability of the towers.

TowerWorx is one of the largest mobile tower producers in the US having a large consumer base across the globe, including AT&T, T Mobile and Verizon.

ANG Auto Limited manufactures and exports automotive components primarily for heavy commercial vehicles and trailers in India. Apart from the domestic market, the company also exports its products to the United States, Europe, Australia, Brazil, and Mexico.

The venture is expected to start its operations in India from August, this year. The scrip of ANG Auto is presently trading at Rs 55, up 1% compared to its previous close.