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Home arrow Alliances and Joint Ventures arrow Escofier (France) and MTE Industries form JV to produce rolling dies
Escofier (France) and MTE Industries form JV to produce rolling dies Print E-mail
Written by Subash   
Thursday, 08 September 2011
Hyderabad: MTE Industries and Escofier (Galile Group) of France have inked an agreement to form a joint venture company - MTE Escofier Forming Technologies Pvt Ltd - to manufacture a range of rolling dies. A new plant will be set up near Hyderabad and Escofier will transfer technology and provide machinery.

MTE Escofier Forming Technologies will start by manufacturing Incremental spline rolling dies and rack rolling dies. These machines will also be exported to Europe and other markets. The 50:50 joint venture will see an investment of around €4 million, shared equally by both joint venture partners.

Sathi Reddy, Chairman of MTE Industries, and Eric Michoux, President, Reseau Galile Group - Escofier of France signed an agreement facilitating the project.

The JV will also cater to other products manufactured by Escofier such as the gear rolling machines and dies.

MTE Industries, a Rs 30-crore company, has a manufacturing unit in Dindigul producing surface grinding machines, thread and spline rolls, etc. Its customers include Honda, TVS, Hero, Bajaj, Suzuki Motorcycles etc.

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