S&T Engineers, YCM Taiwan ink pact

: S and T Engineers Ltd engaged in sourcing and distribution of machine tools, on Wednesday said it has inked a partnership with the Taiwan-based CNC major (computer numeric control) Yeong Chin Machinery towards exchange of financial and technological resources.

The signing of joint venture aims at leveraging the strengths of the two companies besides eyeing a larger share in the domestic machine tool industry, a company release said.

According to the joint venture signed recently, engineers of the companies would share 'financial and technological resources' and provide best-in-class services.

Commenting on the signing of agreement with YCM, S and T Managing Director, D Shanmugasundaram said, "we are delighted to partner with YCM, one of the largest CNC machine makers in the world. I believe, it is perfect match for Indian market as YCM is known for making affordable high-end machines..."