COIMBATORE : Tamil Nadu-based Sree Sakthi Equipment Company is entering into a joint venture with Ziheng Industry of China for manufacturing high pressure moulding lines and other high technology foundry products.
The production in the new venture would commence in another eight months, with both the companies pumping in Rs. 25 crore each, SSEC Executive Director S Karthikeyan told reporters here last night.
SSEC, based at Karamadai in this district, was at present representing AMF-HSLH Flaskless automatic high pressure moulding machine and lines for sales and after-sales service in India.
This is manufactured by Ziheng, in cooperation with Tokyu Company, an affiliate of Toyoto Corporation Ltd of Japan.
Customers will have benefit both financially and productivity wise by using the locally manufactured machines, costing Rs 3-6 crore.
Besides there would be weight consistency in the final product and also the product would be non-polluting, he said.
Stating that the company had already installed 10 high pressure moulding machines in Kolhapur, Nagpur, Miraj and Rajkot, he said that being a foundry hub, the company expected good response from Tamil Nadu, particularly Coimbatore region.
SSEC will also eye export market, particularly Gulf and Middle East Countries, which are potential markets for such machines, he added. (PTI)
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