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Jaykay Enterprises enters into a Joint Venture with Germany-based EOS

Jaykay Enterprises, a part of diversified JK Group, on Monday said it has entered into a joint venture partnership

joint ventures in India

Press Trust of India  |  New Delhi 

Deals, mergers,

Jaykay Enterprises, a part of diversified JK Group, on Monday said it has entered into a joint venture partnership with Germany's EOS, a global leader in 3D metal design and printing market, to address the need of 3D metal printing in India.

The joint venture (JV) will operate through a new subsidiary called NeuMesh Labs Pvt Ltd, headquartered at Bengaluru, with EOS providing technical knowledge, the company said in a statement.

It will support Indian to adapt metal 3D printing by offering 'EOS Additive Minds' consulting topics in the area of Design For Additive Manufacturing (DFAM), part screening and selection, topology optimisation and to generate business cases.

"Further, Jaykay Enterprises will invest in a print farm with options of both onsite and offsite capabilities," the statement said.

The company, however, did not disclose the details of the shareholding pattern and investments in the JV.

Commenting on the JV, Jaykay Enterprises Additional Director Abhishek Singhania said, "The JV will address the growing need of metal printing in defence, aerospace and healthcare industry."

Jaykay and EOS have substantial brand equity in the market. EOS is the global technology leader for industrial 3D printing of metals and polymers, he added.

"A huge component of metal 3D market in our country remains unaddressed. Due to the ever-changing technology and limitation in the size and deposition rate in printing, are reluctant to invest in the technology. With EOS as our partner, we hope to overcome these limitations and make India self-reliant," Singhania said.

EOS India Country Head Anand Prakasham said, "Together, we will serve the demand for high-end technology in 3D metal printing in India. We look forward to a fruitful and rewarding journey ahead."

Jaykay Enterprises had earlier invested in Nebula 3D which is in the business of scanning, modelling, reverse engineering, designing and benchmarking.

"With this new venture, Jaykay Enterprises will become an integrated player in the 3D metal printing market through its cutting-edge manufacturing technology," the company said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Mon, January 04 2021. 19:53 IST