Mitsubishi-Hitachi Metals Machinery and CONCAST India Form Partnership
06/11/2013 - Mitsubishi-Hitachi Metals Machinery, Inc. and CONCAST (INDIA) LIMITED have decided to enter into a strategic partnership together to capitalize on the individual strengths of both companies.
Mitsubishi-Hitachi Metals Machinery, Inc. (MH) and CONCAST (INDIA) LIMITED (CIL), a leading supplier of continuous casting machines in India, have decided to enter into a strategic partnership together to capitalize on the individual strengths of both companies. MH has recently concluded the share purchase agreement with CIL’s shareholders.
The Indian government plans to develop and invest rapidly in infrastructure at about US$1 trillion in the twelfth Five Year Plan (2012–2017) and it is highly expected that steel consumption will increase, iron and steel industries will expand and the demand for metals machinery will grow. Under such circumstances, MH has focused on CIL, which has outstanding and significant achievements in the metals machinery industries in India.
CIL was established in 1973 by the visionary entrepreneur Narinder Nayar, when the Indian steel industry was in its infancy, and has its headquarters and engineering center located in Mumbai. A workforce of approximately 200 highly qualified staff implement engineering, commissioning and after sales services for continuous casting machines. CIL has built up the No.1 market share inside India for billets and rounds and is currently exporting to over 30 countries, including many rising nations in the Middle East, Africa, and Southeast Asia.
With the benefit of CIL’s competent engineering capabilities, MH has gained the following:
· A foothold to advance into the field of long products
· The addition of continuous casting technologies of both round billets and slabs which are not in the possession of MH at present
· The penetration into the good markets of CIL such as the Middle East, Africa, etc.
· The synergy effects, such as packaged order intake for steel making equipment, increased engineering capacity for lines and equipment of flat products through technology and know-how transfer from MH, the utilization of supply chains of CIL, etc.
With the CIL-MH partnership, the company is poised to increase sales and accelerate global business expansion, thereby aiming at being the No.1 supplier for metals machinery in the world.
