L&T, Japan’s Kobe Steel in JV for rubber machinery

L&T, Japan’s Kobe Steel in JV for rubber machinery

Mumbai: Larsen & Toubro Ltd, the leading engineering and construction company and Japan’s Kobe Steel Ltd. have formed a joint venture for manufacturing of equipment for the tyre and rubber industry for India and other overseas markets.

According to the company, L&T and Kobe possess complementary strengths. “The JV will form a strong team in the global rubber machinery market to provide customers with state-of-the-art products for the tyre industry," the company said in its release.

The JV will invest around Rs60 crore for setting up of 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.

The formation of this JV represents a further strengthening of the capabilities of four decade old L&T’s rubber processing machinery business by widening its portfolio offerings to the global tyre industry. “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," the company said in the release.