Macmet India Ltd will form a 50:50 joint venture with TAIM-TGF of Spain to address the growing demand for bulk material handling systems.
New entity will integrate its products with that of Spanish partner
KOLKATA: Macmet India Ltd, a supplier of bulk material handling solutions, will form a 50:50 joint venture with TAIM-TGF of Spain to address the growing demand for bulk material handling systems from steel, cement and mining industries.
The companies announced a technical tie-up on Tuesday and the JV is likely to be formed within 12 months.
TAIM-TGF is a leading supplier of ship loaders, unloaders, stackers and reclaimers and specialised cranes.
Macmet has two manufacturing units at Vishakapatnam and Kolkata. It is in the process of acquiring an unutilised facility of the West Bengal government at Kalyani for manufacturing. The partners will pool in resources for the joint venture, which will manufacture and market the full range of TAIM-TGF products in India. As per the arrangement worked out, belt conveyor systems manufactured by Macmet will be integrated into systems sold by TAIM-TFG. P K Madappa, MD, Macmet India Ltd, said, “We are committed to design and supply material handling solutions... We have decided to setup the manufacturing unit in West Bengal.”
Simon Whalley, head of sales TAIM-TFG said, “We hope to generate €20 million in 18 months. There are four main areas where we will be interested in, which includes bulk handling solutions, special cranes, renewable energy like biomass and urban solid waste treatment.” The JV will also address international projects in countries where TAIM-TFG is already present.
Further, it is proposed to set up a design centre to address the engineering requirements of TAIM-TFG worldwide.
g_nandini@dnaindia.net
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