L&T, Kobe Steel ink JV for tyre & rubber industry equipment

Mumbai, Jan 25 (PTI) Engineering and constructionmajor Larsen & Toubro (L&T) today said it has inked a jointventure agreement with Japan-based Kobe Steel for themanufacture of internal mixers and twin screw roller-headextruders for the tyre and rubber industry for global markets,including India.

The JV will invest around Rs 60-crore for setting upof a manufacturing facility and related infrastructure. Thestrategic partnership enables the JV to leverage thetechnology leadership of Kobe in this segment as well as themarket reach of L&T through its customer base in India andabroad.

Initially, internal mixers of sizes 270 to 430 andextruders of sizes 350 and 450 will be manufactured by the JVand marketed by L&T and Kobe. Additional models will beprogressively introduced in the future, the company said in astatement.

Kobe Steel has been in the development and manufactureof mixing room equipment for tyre and rubber industry forseveral decades. With its advanced technology, Kobe todayenjoys market leadership for internal mixers in the globaltyre industry.

L&T has been in the rubber processing machinerybusiness for over four decades, offering world renowned tyrecuring presses and tyre building machines. The company enjoysglobal leadership in these segments.

The formation of this JV represents a furtherstrengthening of the capabilities of L&T''s rubber processingmachinery business by widening its portfolio offerings tothe global tyre industry, the statement said.

The company will offer internal mixers and twin screwroller-head extruders in addition to its existing range oftyre curing presses and tyre building machines, it said. PTIKCJ DK