HMT inks pact with Belgium-based company

Bangalore, May 1 (UNI) HMT Limited has entered into a Memorandum of Understanding (MoU) with M/s Pegard Productics SA, Belgium, envisaging manufacturing and supply of upgraded range of Boring Machines of Pergard make of HMT in India and abroad.

The MoU was signed at the Hannover Fair held in Germany, a HMT release here said today.

The two companies would also explore business opportunities and undertake joint manufacturing and supply of specific range of Pegard machines and accessories related to market requirements to Indian and overseas customers through technology transfer.

Technology acquisition for supply of high-end machines had been one of the key strategies adopted by the company to focus on the requirements of strategic sectors such as aerospace and aviation, apart from auto and atuo component manufacturing sectors, the release said.

UNI RG SKB1700