YCM and S&T Engineers (P) Ltd recently announced the agreement for the creation of a Joint Venture company in India.
Through this partnership, the two companies expect to produce and deliver CNC Vertical Machining Centers and associated services in India. The Joint Venture intends to focus on both the companies’ strengths and reach out to get more market share in the Indian Machine Tool Industry.
Under the agreement, YCM and S&T Engineers will share financial and technological resources with the intent to leverage the best of both companies and provide best-in-class services.
Commenting on the association D Shanmugasundaram, MD, S&T Group says, “We are delighted to partner with YCM, one of the largest CNC machine makers in the world. I believe, it is a perfect match for the Indian market as YCM is known for making affordable high-end machines and our strength lies in our wider reach in the Indian market, skilled sales, and services engineers, and know-how about the Indian market.”
YCM, a significant player in Global Machine Tool Market, has committed to provide its unique expertise and technologies as a contribution to the JV’s activities. S&T Engineers will contribute with its customer base, service experience, and application expertise using its wide network and reputation within the Indian machine tool sector. “Looking at the growth in Indian manufacturing industry, we are very much confident about the Indian machine tool market. Together with S&T Engineers, we can become a major player in India with our excellent technology backed by S&T’s strong sales & application support,” commented Rick, Chairman, YCM. The complementary portfolio of technologies offered by the Joint Venture will provide the End Users with a new and reliable global partner for the supply, installation, and maintenance of their CNC Vertical Machining Centers, backed up by years of expertise and recognised technologies throughout the country