The Hindu Business Line : Mather ties up with German co VAG

MATHER & Platt Ltd (M&P), an engineering company of the $2-billion Jumbo Group, has firmed up a collaboration with VAG of Germany, a global leader in valve technology.

"As per the collaboration, M&P will co-manufacture and market ductile iron valves with VAG for the first time in India. The valves will be marketed under M&P-VAG brand name," a press release said quoting Mr Prakash Nanani, Chief Operating Officer, Jumbo Group - India operations.

Valves will be manufactured at the Pune facility of M&P. An investment of Rs 50 crore is envisaged to garner a market share of 15-20 per cent in a year's time, the company said.

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