Pune-based Mahindra Conveyor Systems (MCS), a supplier of material handling equipment and systems has formed 49:51 joint venture with Japan’s Tsubaki Chain Co to explore new markets like Asia, Africa, the Middle East and Europe.
Tsubaki and MCS already have an existing tie-up for technical know-how and Tsubaki has now gained majority (51%) holding in MCS. The JV will be renamed as Mahindra Tsubaki Conveyor Systems.
“Our partnership with Tsubaki in MCS is an opportunity to service our customers more efficiently and brings together talented technical and management teams. We are excited about MCS’ future in this new combination and look forward to working together on its growth and value creation,” said Zhooben Bhiwandiwala, executive vice-president & managing partner – Mahindra Partners Division, Mahindra & Mahindra.
“JV will now enable us to carry out large scale manufacturing and sale of Unit Handling Systems for supplies not only in India but to markets in Asia, Africa, the Middle East and Europe. We will also actively invest in people and technology for growth of the JV,” said Yohei Kataoka Sr. Advisor, Tsubakimoto Chain Co.
MCS specialises in supply of Bulk Material Handling Equipment and Systems to cement and other process industries. The company has recently diversified into supply of Unit Handling Systems comprising of conveyors for auto and auto component manufacturing. Tsubaki’s main business divisions are chain, power transmission units and components, automotive parts and material handling operations.
