Financial Daily from THE HINDU group of publications
Tuesday, Jul 27, 2004
Financial Daily from THE HINDU group of publications Tuesday, Jul 27, 2004 |
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Corporate
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Alliances & Joint Ventures Government - Security Elgi ties up with German co to supply compressors to Indian Navy Our Bureau
Coimbatore , July 26 COMPRESSOR manufacturing major Elgi Equipments has entered into a collaborative venture with J.P. Sauer & Sohn of Germany for supply of the modern compressors to the Indian Navy. Dr Jay Varadaraj, Managing Director of the city-based Elgi Equipments, told Business Line that the venture envisaged local manufacture of compressors for new generation battle ships. "This will enable the Indian Navy to access advance technology at competitive rates,'' he said. Dr Varadaraj said that it would be a win-win situation for both the venture partners, with Elgi having access to specialised expertise from the collaborating partner and the latter, in providing access and support to the Indian Navy. ``That is not all. There are other specialised opportunities beyond the Navy's requirements, where the two companies could collaborate profitably.'' He said Elgi Equipments would be supplying compressors to aircraft carriers, large frigates, apart from importing from the venture partner, which would go directly to submarines. His company, he said was already supplying equipment to certain categories of ships, though huge volumes were being imported from Russia.
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