Gujarat Apollo Industries is picking up a 26 per cent stake in Credo Mineral Industries (CMIL) for Rs 13 crore ($2.1 million), as per recent reports. The Ahmedabad-based CMIL is a part of Credo Group which focuses primarily on the mining and minerals sector of India. With this JV, Gujarat Apollo will be able to expand its existing business segment by adding value to its core focus of manufacturing crushing/screening equipment for the mining and mineral beneficiation industry. Incorporated in 1967, Gujarat Apollo, the road construction equipment business of Apollo Group, is the leading manufacturer and exporter of road construction equipment in India. The firm designs, manufactures, and sells road construction equipment as well as provides product support to construction equipment.