Indian SME signs JV
Neelam Mathews Jan 30, 2012 Hyderabad's privately owned Small and Medium Enterprise company, Raghu Vamsi Machine Tools into manufacturing of precision engineering parts for Aerospace and Defense industries has entered into a joint venture with Industria de Tuberias Aeronauticas(ITA), a Spanish company and Reginson Engineering Ltd ("Reginson"), a British Company. The JV will be named "Reginson India" and will have three partners, each contributing the right mix with ITA providing the market access , Reginson providing the product know how, and Raghu Vamsi providing the local market knowledge and industrial capabilities. The JV will manufacture machined components designed to be assembled into rigid and flexible pipes or ducts, i.e. End Fittings for Aircraft Engines. The JV will invest Rs 25crore in 3 phases - Rs 10 Crores in the first year with a target of Rs 100 crores in the next 5 years. The joint venture is (possibly) the first of its kind in engine compo...