Hyderabad-based machine tool manufacturer Lokesh Machines today said it has signed an agreement with Taiwan's Tongtai Machine & Tool to produce hi-speed vertical machining centre model EZ5 for the Indian market.
"We are in an era of change and unparallelled growth. To speed up our processes and remain at the cutting edge of technology is of paramount importance to take the company to the highest peaks of achievement and to make in India but yet remain a global power. Our venture with Tongtai opens up an exciting new chapter in our progress and potential," Lokesh Machines Director M Sri Krishna said in a release issued here.
With a successful portfolio of products and supplying several critical machines to the domestic automobile, energy, aerospace industries and also exporting machines to Japan, Germany, Italy, Russia, China and other European countries.
Under the agreement Lokesh Machines is going to start manufacturing Tongtai Machine's most popular Hi-Speed Vertical Machining Centre Model EZ5 for the Indian market as well as for re-export at their new facility at Kallakal, Hyderabad.
Besides the EZ5, Lokesh is also going to manufacture other Hi Technology machines of Tongtai for the global markets.
Tongtai is one of the leading machine tool company in Taiwan having various manufacturing facilities in Taiwan, France and Austria.
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