CAD CAM News
Machining Tips
Auto component
Alliances and Joint Ventures
Engineering, Technology, Research and Development
Promote Growth of Manufacturing Activities, No Matter Who Owns It: Arun Maira
Saint-Gobain to acquire Electrotherm's ductile pipes division for Rs 9.5bn
Powergrid and RINL sign MOU for Tower Manufacturing JV
QuEST Global inaugurates Offshore Design Centre for Siemens in Bangalore
BHEL striving to improve cost competitiveness and quality to attain target
Home Alliances and Joint Ventures Voltas and KION Group GmbH form JV for Material Handling Equipment
Voltas and KION Group GmbH form JV for Material Handling Equipment
Written by Vijay
Mumbai: Voltas Limited and KION Group GmbH have agreed to establish a joint venture in India for the development, manufacture, marketing, and servicing of forklift trucks and warehousing equipment. The product range will include diesel/LPG and electric trucks with load capacities of 1.5 to 16 tons.
Voltas's material handling operations will be integrated into a new joint venture company (JV), with the KION Group holding a majority share. The JV will be named Voltas Material Handling (VMH) and is expected to start operations in April 2011.
Until now, the KION Group has been supplying forklift trucks to India through its Linde Material Handling and STILL brands. As the KION Group's sixth brand, Voltas will primarily concentrate on the Indian market from its local manufacturing base. VMH will serve the volume market with its existing product range.
"As part of our long-term strategy, we intend to further invest within this joint venture to take full advantage of the potential of the Indian market. The joint venture represents a significant step toward expanding our position in one of the world's most promising growth markets," said Gordon Riske, CEO of the KION Group.
"Voltas is one of the most successful forklift manufacturers in India, and will provide our Group with in-depth knowledge of the forklift truck market in India," he added.
"The Voltas brand will continue to expand its product range, particularly in the warehouse equipment sector. The partnership will ensure long-term sustainability, and we are well positioned in the Indian forklift truck market," said Sanjay Johri, Managing Director of Voltas Ltd. "KION has unrivalled know-how and technological leadership in the forklift truck business, so the partnership will help VMH further consolidate its leading position in India."
Demand in the Indian market is expected to grow rapidly in the course of the country's dynamic industrialisation.
VMH will have twenty-five branches and dealerships all over India.
Sunil K Gupta takes over as new CEO of Voltas Material Handling (04/10/2011)
Voltas Material Handling invests Rs 12 crore to set up plant in Pune (27/07/2011)
More recent
Bharat Forge and David Brown Systems form JV for gearboxes (09/05/2011)
Pipavav Shipyard signs MoU with Babcock, UK to build aircraft carriers (29/04/2011)
Shilp Gravures inks JV Agreement with Re S.p.A. Controlli Industriali (19/04/2011)
Hamilton Sundstrand and Infotech inaugurate engineering center in Bangalore (07/04/2011)
Kirloskar Oil Engines Ltd inks License Agreement with Daihatsu Diesel, Japan (29/03/2011)
Earlier on
Jindal ITF and Kobelco Eco-Solutions form Joint Venture company (14/03/2011)
DSM & Kemrock to invest $25mil in manufacturing JV for specialty resins in Pune (03/03/2011)
Incap and Kemppi Oy sign contract on cooperation in India (24/02/2011)
SAIL obtains management control of Steel Complex Ltd in Kozhikode, Kerala (16/02/2011)
L&T and Cassidian JV to work closely with new Engineering centre in Bangalore (11/02/2011)
<< SHARE
Follow @MACHINISTIN
Follow MACHINIST.IN on Facebook
BMW rolls out 20,000th car from Sriperumbudur plant in India
BMW Group selects 3 from India for Int'l Management Associates Programme
Automobile Production registers 28.33% growth in November 2011: SIAM
Mahindra Navistar announces its pan-India commercial launch
Mahindra ramping up XUV5OO production at its plant in Chakan
Auto sector sales improve in November
General Motors India's Halol Plant bags National Safety Award 2011
Tata Motors enters deep mining space with the new Tata Prima 3138.K
Asia Motor Works launches 16 ton single axle tipper model
S Sandilya on Council of Int'l Organisation of Motor Vehicle Manufacturers
Subscribe to MACHINIST by Email
Web Machinist.in
Syndication / Licensing
© 2020 MACHINIST
This site is best viewed with Firefox 2.0 or higher at a minimum screen resolution of 1024x768