Coimbatore-based S&T Engineers and Taiwan-based Yeong Chin Machinery (YCM) will jointly invest Rs 24 crore in the first phase to make and supply CNC vertical machining centres.
A report in The Hindu quoted D Shanmugasundaram, Managing Director, S&T, as saying that the investment would be increased to Rs 100 crore in the next three years depending on the market response.
“We (S&T) will have marketing rights across the country for the machining centres produced,” he said. The details of the joint venture are being worked out.
According to the report, the plant is likely to be commissioned in January. To start with, it will manufacture three models of the machine and will expand to seven models. The plant will have capacity to produce 100 machines though the proposal is to make 15 machines a year in the first phase.
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