UCAM forms JV with Italian firm
To set up new plant in Bangalore
| UCAM will hold 51 per cent in the joint venture company and the rest will be held by Rosa Ermando. The JV "" Rosa Ucam Grindtech Pvt Ltd "" will manufacture and market high precision surface grinding machines in India, UCAM managing director Indradev Babu said. |
| Announcing the formation of new JV at IMTEX 2007 (Indian Machine Tool Exhibition), he said the joint venture would initially manufacture machines at the existing facility of UCAM at Bangalore and also set up a new green field facility to manufacture 150 machine annually at an investment of Rs 15 crore at Dobbspet near Bangalore. |
| The company has acquired 9 acres land from the Karnataka Industrial Area Development Board (KIADB) for the new facility and the civil work would commence shortly, he said. |
| "The JV with Rosa Ermando will help us get contemporary technology to manufacture surface grinding machines. Besides, catering to the domestic market, we are planning to export around 30 per cent of the total production to South East Asian countries and South Africa. The agreement also envisages buy back arrangements," Babu told reporters. |
| To begin with, the JV company will produce 'IRON' series surface grinding machines and 'Rotor' series Rotary surace griding machines. UCAM will also import and market the full range of Rosa Ermando's products made in Italy. The JV company has already produced 3 machines which are presently on display at IMTEX 2007. |
| Commenting on the new initiative, Riccardo Rosa, president of Rosa Ermando said, "India has emerged as the nerve centre for machine tool industry in Asia and its technological capabilities are far superior to many other Asian countries. Our JV with UCAM, a highly focused technology company, will manufacture special category of machines, which till now were not made in India." |