Austria's Miba Group joins hands with Pune's Maxtech
Austria based Miba Group, engine and automotive company has entered into a joint venture with the clutch components manufacturer Maxtech Sintered Product Pvt. Ltd in Pune. The company has invested around Rs 40 crore in for this venture.
The joint venture between Miba and Maxtech Sintered Product Pvt. Ltd. will provide Indian and international car manufacturers and suppliers with high-tech sintered components. "Miba enters India with a local production site close to its largest global customers, who are already producing engines and transmissions in India, or plan to do so shortly," says Harald Neubert, CEO of Miba Sinter Group.
Miba will transfer its latest powder metal technology to Maxtech Sintered Product and will localise production of components currently imported to India from Europe. The first technology transfer and localisation projects are already underway. Miba will provide global sales and engineering support for Maxtech's stainless steel products, which are used in high-performance exhaust systems.
"This investment in India expands our global network and provides our customers with Miba's technology and best possible support through local product development and production close to our large global customers," said Peter Mitterbauer, CEO, Miba Group.
Miba Friction Group has been supplying clutch segments for trucks and tractors to India for over ten years.
With the takeover of Hoerbiger's friction lining production, Miba is continuing its successful expansion. "We are growing in one of our core areas, friction, by more than half and reaching a global leading market position in the strategic segment off-road. The new site in India expands Miba's global network," says Peter Mitterbauer (junior), CEO of Miba Friction Group.
"Together with the technology leader Miba, we are able to provide our customers with even more competitive solutions in powder metal," adds Jignesh V. Raval, Managing Director of Maxtech Sintered Product.