Stone India Ltd has informed BSE that the Company had executed  a Technical Collaboration agreement with Sumitomo Electric  Industries, Japan in Nov 2007 for selective manufacturing and assembly of Air Spring systems for Railways in India. Subsequently Stone India commenced bulk supply of Air Springs to Indian Railways. To further the co-operation, the two Companies signed an understanding effective from February 15, 2010, to enter into a Joint Venture in a Phase  wise manner to locally manufacture Air Springs in India.The Company earlier had entered into a separate agreement with Tokai Rubber Industries.