JAPANESE company Kobe Steel’s joint venture with India’s Larsen & Toubro has started up production of rubber processing machinery in India. Called L&T Kobelco Machinery, the joint venture manufactures rubber mixers and twin-screw rollerhead extruders used in making tyres.
The plant in Kanchipuram, southwest of Chennai in the state of Tamil Nadu, was recently inaugurated. Established in November 2010, L&T Kobelco is capitalised at 500 million rupees. It is 51% owned by Larsen & Toubro and 49% by Kobe Steel. The company, headquartered in Mumbai, has 54 employees.
The company says the plant was set up due to increasing demand in recent years owing to rising production of automotives mainly in emerging countries. It plans to market its products in India, Europe, the Middle East, Africa, Russia and Eastern Europe.
L&T Kobelco is Kobe Steel’s fourth manufacturing base. In addition to Takasago, Japan, Kobe Steel’s other manufacturing centres are in the US and China. Annual sales are anticipated to reach US$45 million in the 2014-2015 fiscal year.(PRA)
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