New Delhi: Mahindra Conveyor Systems, a supplier of material handling equipment and systems, has formed a joint venture with Japan's Tsubakimoto Chain Co as the partners eye various global markets including Europe and the Middle East.
"Tsubaki and MCS already have an existing tie-up for technical know-how and Tsubaki has now gained majority (51 per cent) holding in MCS, to assist it in making inroads into new markets in Asia, Africa, the Middle East and Europe," Mahindra Conveyor Systems (MCS) said in a statement.
MCS will now be renamed as Mahindra Tsubaki Conveyor Systems Pvt Ltd, it added.
"Our partnership with Tsubaki in MCS is an opportunity to service our customers more efficiently and brings together talented technical and management teams," Mahindra Partners Division executive vice president and managing partner Zhooben Bhiwandiwala said.
Tsubakimoto Chain Co senior advisor Yohei Kataoka said the JV will enable the entity to carry out large-scale manufacturing and sale of equipment 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 joint venture," he added.
MCS, which is a part of the Mahindra group, specializes 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.
Osaka-based Tsubakimoto Chain Co manufactures various products including power transmission units and components, and automotive timing chain drive systems.
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