The city-based Elgi Equipments (EEL) has formed a joint venture with J P Sauer and Sohn, Germany, with the manufacturing facility being set up here.
J P Sauer and Sohn, a euro 72 million company, is a market leader for high pressure air compressors for naval, marine and industrial applications, Dr Jairam Varadaraj, managing director of EEL, said in a release today.
The Rs 500 crore EEL, manufacturing air compressors, had started the business relationship with Sauer in 2004 by promoting its range of high pressure compressors and touched a sales turnover of Rs 10 crore in the last financial year, he said.
Stating that the joint venture 'Elgi Sauer Compressors' is scheduled to commence the operations very soon, Jairam said this would bring in more advanced technlogy, wide range of products, increased availability due to indigenisation and better product support for Indian navy, marine and special applications in domestic industry.