A joint venture between Balmer Lawrie & Co and two foreign partners, Balmer Lawrie Freight Containers was incorporated in the 1994. It manufactures marine freight containers at its 100% EOU at Madras Export Processing Zone (MEPZ). Company is lead by C V Chandrasekharan as chairman and H Shankar as managing director. Commercial production commenced in Sep'95. In this joint venture, Balmer Lawrie & Company holds 49% stake; Okular & Co, Japan, holds 5% stake and Techtrans Technology Transfer Engineering, Germany (a subsidiary of Habatec), has a 4% stake. The tie-up with Okura is for sourcing equipment. The company entered into a collaboration agreement with Habatec Containers, Germany, to manufacture reefer containers for which the facility at MEPZ would be made use of. It has a buy-back agreement with Habatec to market half its annual production. During the year 1999-2000, due to the continued depression and drop in demand from the customers, the company has become a "Sick Industrial Company" and has been registered by BIFR.