: S and T Engineers Ltd engaged in sourcing and distribution of machine tools, on Wednesday said it has inked a partnership with the Taiwan-based CNC major (computer numeric control) Yeong Chin Machinery towards exchange of financial and technological resources.
The signing of joint venture aims at leveraging the strengths of the two companies besides eyeing a larger share in the domestic machine tool industry, a company release said.
According to the joint venture signed recently, engineers of the companies would share 'financial and technological resources' and provide best-in-class services.
Commenting on the signing of agreement with YCM, S and T Managing Director, D Shanmugasundaram said, "we are delighted to partner with YCM, one of the largest CNC machine makers in the world. I believe, it is perfect match for Indian market as YCM is known for making affordable high-end machines..."
YCM, Taiwan has committed to provide its expertise and technologies as a contribution to the joint venture.
S and T Engineers would contribute with its customer base, service experience and expertise using its network in the Indian machine tool sector.
YCM, Taiwan President Rick said the company was confident about the Indian machine tool market.
"Together with S and T Engineers we can become major players in India with our excellent technology backed by S and T's strong sales and application support," he added.
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