Lloyds Engineering Works Limited will design, manufacture and sell acid-less steel pickling systems based on Eco Pickled Surface Generation 4 technology following a licensing and purchase arrangement with United States-based The Material Works Limited. The development expands the company’s product portfolio in flat rolled steel processing equipment and provides it with international commercial rights, subject to defined territorial exclusions.
Under the arrangement, The Material Works Limited, a company incorporated in Delaware, United States, has granted Lloyds Engineering Works the licence and rights to its patented EPS Gen 4 technology. The licence enables Lloyds Engineering Works to design, manufacture and sell EPS Gen 4 cells globally, excluding China, Macao, Hong Kong, Taiwan, and within a 350-mile radius of Red Bud, Illinois. The scope also includes access to ongoing design improvements, technical training, marketing materials, and sales support.
The consideration for the arrangement will be paid through annual cash payments as agreed between the two parties. Lloyds Engineering Works is entitled to manufacture and sell an unlimited number of EPS cells using the patented technology, subject to payment of an agreed earnout to The Material Works for a specified period. The transaction does not fall under related party transactions, and the promoter or promoter group of Lloyds Engineering Works does not have any interest in the US-based company.
EPS Gen 4 technology is designed to eliminate the use of acid in the steel pickling process. Conventional pickling methods rely on acid-based solutions to clean steel surfaces, creating challenges related to waste handling and environmental compliance. According to the filing, the EPS Gen 4 process removes the need for acid, uses fully recyclable materials, and results in zero effluent discharge.
The Material Works Limited is engaged in toll processing of flat rolled metals and has developed and patented the EPS Gen 4 technology over a period of approximately 15 years. Lloyds Engineering Works will be responsible for manufacturing and selling the equipment while receiving technical and commercial support from the technology owner.
Lloyds Engineering Works Limited, formerly known as Lloyds Steels Industries Limited, is an India-based engineering company with manufacturing facilities in the Murbad industrial area of Maharashtra, supplying engineered equipment and systems to domestic and international customers.
