Voltas Material Handling - a joint venture company (JV) between Voltas and Germany's KION Group has set up a new plant in Pune at an investment of Rs 12 crore. The new facility will manufacture diesel and electric forklift trucks. The company had produced 1,700 forklifts from its Thane plant last year and by the end of this year the plant in Pune will have the same capacity.
Recently, Voltas had upon fulfillment of certain conditions transferred its material handling (MH) business of development, manufacturing, marketing, sales and service of forklift trucks and warehousing equipment and all ancillary activities to JM Materials Handling Solutions, the joint venture (JV) company, and pursuant to a JV with Linde Material Handling Asia Pacific, an affiliate of KION Group, Germany. Voltas had received consideration of Rs 110 crore for the transfer of its business.
Further, the name of the JV Company was proposed to be changed to Voltas Materials Handling (VMH) where majority of the equity share capital of the JV Company is held by Linde Material Handling Asia Pacific. As a part of the JV agreement, Voltas had also entered into a supply agreement with the JVC for forklifts and warehousing equipment to be manufactured at its Thane plant and has granted a licence to the JV Company for use of ‘Voltas’ brand for forklifts and warehousing equipment
Voltas is one of the world's premier engineering solutions providers and project specialists. The company offers engineering solutions for a wide spectrum of industries in areas such as heating, ventilation and air conditioning, refrigeration, electro-mechanical projects, textile machinery, mining and construction equipment, materials handling equipment, water management & treatment, cold chain solutions, building management systems, and indoor air quality.
| Company Name | CMP |
|---|---|
| Voltas | 1440.00 |
| Blue Star | 1865.85 |
| Amber Enterprises | 7960.30 |
| Bosch Home Comfort | 1347.55 |
| EPACK Durable | 248.40 |
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