Enviro announces joint venture with ATS, Germany
By Our Corporate Bureau | 26 Aug 2005
Pune-based Enviro Abrasion Resistant Engineers Pvt. Ltd today announced a joint venture with ATS Group - Hero Fordertechnik, Germany. The new venture, Enviro-ATS Conveyors Pvt Ltd will design, manufacture and install material handling systems like floor conveyors, overhead conveyors and electric monorail systems. The manufacturing facility is being set up at Talawade, Pune.
The current domestic market for unit material handling system is around Rs150 crore per annum and is expected to grow not less than 25 per cent per annum. Speaking on the occasion, S G Kulkarni, managing director, Enviro ATS Conveyors Pvt. Ltd. said, "The new entity expects a turnover of around Rs25 crore within the next two years. We also plan to recruit around 45 professionals within a span of 1-2 years in a phased manner."
Michael Letzelter, chairman, Enviro ATS Conveyors said, "This joint venture will not only cater to the domestic needs but we also intend to supply the components and systems overseas". Enviro ATS Conveyors will provide Hi-Tech handling systems and the latest material handling technology to various Indian customers in the field of automotive, food industry, domestic appliances, pharmaceuticals etc.
The joint venture will encompass a 51 per cent stake from the ATS Group and 49 per cent from Enviro Abrasion Resistant Engineers.
Enviro
Abrasion Resistant Engineers' clients include NTPC,
BHEL, SAIL, NALCO, L&T, ACC, TISCO, Ambuja Cement,
Jindal Group, among others etc.
