Engineering and construction major Larsen & Toubro (L&T) today said it had inked a joint venture agreement with Japan-based Kobe Steel for manufacturing internal mixers and twin screw roller-head extruders for the tyre and rubber industry for global markets, including India.
The JV will invest around Rs 60 crore for setting up a manufacturing facility and related infrastructure. The strategic partnership enables the JV to leverage the technology leadership of Kobe in this segment as well as the market reach of L&T through its customer base in India and abroad.
Initially, internal mixers of sizes 270 to 430 and extruders of sizes 350 and 450 will be manufactured by the JV and marketed by L&T and Kobe. Additional models will be progressively introduced in the future, the company said in a statement.
Kobe Steel has been in the development and manufacture of mixing room equipment for tyre and rubber industry for several decades. With its advanced technology, Kobe today enjoys market leadership for internal mixers in the global tyre industry.
L&T has been in the rubber processing machinery business for over four decades, offering world renowned tyre curing presses and tyre building machines. The company enjoys global leadership in these segments.
The formation of this JV represents a further strengthening of the capabilities of L&T's rubber processing machinery business by widening its portfolio offerings to the global tyre industry, the statement said.
The company will offer internal mixers and twin screw roller-head extruders in addition to its existing range of tyre curing presses and tyre building machines, it said.
