Pune-based Alcor Fund’s portfolio company Automation & Control today signed a Joint Venture agreement with Detroit based Auto/Con – Automation Control Systems Inc which designs, develops, engineers and manufactures high-value custom production automation and robotic systems.
To be formed with an investment of Rs 75 crore, the company will start production from the existing Automation & Control plant in Shirwal near Pune. It will cater to Automotive, Consumer, Industrial Appliances, Electronic, Medical and Energy sectors in India and abroad.
The Pune plant will offer Integrated Design Solutions, Powertrain, Integrated Assembly lines for Automotive, Automation & Robotic systems, Material handling systems, Gauging, Automation and Industrial washing systems, Mechanical Power Transmission Design and Custom built special purpose machines.
George Molakal CEO, Alcor Fund said, “The new JV will serve the growing demand for Automation and Robotics products and systems in various industry verticals in India and globally. The objective of the JV is to deliver on-time quality products.”
Christopher Michayluk, CEO, Auto/Con, said “We are excited about the potential for expansion in the Indian and Asian markets. The JV will help us become globally price competitive by using local Indian intellectual talent.”