CONMAT ANNOUNCES TWO GLOBAL PARTNERSHIP AT BC INDIA
World’s largest Shock Absorber manufacturer KYB Corporation of Japan has acquired 50% stake in Vadodara, Gujarat based Conmat Systems P. Ltd.
KYB is a 94 year old company, founded on 19th November 1919. KYB is listed on the Tokyo Stock Exchange, First Section. It has 34 manufacturing plants, 26 sales locations and over 12,000 employees worldwide, having annual turnover of more than 20,000 Crore INR.
KYB is also the largest Transit Mixer Producer in Japan, having 85 % market share, and has entered into this strategic partnership with Conmat to become a major player in the Global Construction Equipment market. This will also accelerate Conmat’ s growth in term of market position, brand building and product portfolio, well supported by Japanese Technology, quality and production systems. The new Joint Venture will be used as a global sourcing hub for construction equipment.
This is KYB’s first investment in India and they decided on Conmat after studying all the major construction equipment manufacturers in India. They have been utmost careful and have conducted extensive research of Indian Subcontinent and detailed due diligence, which speaks very highly of Conmat’s Promoters’, Business Model and Value Proposition. They decided to partner Conmat for –
- The ethics, principles and values of Conmat and its promoters’
- Conmat’ s positive brand image in the country
- Conmat’ s balanced approach to business and CSR
- Conmat’ s research, design and technology standards
- Conmat’ s state of art manufacturing facility
In addition, Conmat has also announced the partnership with Arrow, the Leading Australian Curb Mach