Parntership with Rabatex-ATE
KARL MAYER, a German headquartered group focusing on manufacturing of textile machinery, has entered into a joint venture with Rabatex Industries and A.T.E. Group in India.
The joint venture company named “KARL MAYER Textile Machinery India Private Limited”, will be majority owned and controlled by KARL MAYER, said the legal counsels Nishith Desai Associates on 24 Apr 2019.
The joint venture aims to enhance the position and distribution in the Indian market for each of the joint venture partners, especially by using the existing competencies of each of the partner.
Nishith Desai Associates was involved in the setting up of the joint venture entity as well as negotiation and execution of the joint venture agreement and other supporting documents relating to the business objectives of the JV partners.
The joint ventrue, singed on 29 March 2019, has registered office in Mumbai and production facility in Ahmedabad.
KARL MAYER Textile Machinery India Private Limited will focus mainly on the manufacturing and sale of warp preparation machines and creels mainly for Indian market, as well as service and spare parts sale for warp preparation and warp knitting machines.
“With the further development of our international organization, and with our proven way to produce in our main markets, we want to continue to make a contribution to the long-term success of our customers,” elaborated Arno Gärtner, CEO of KARL MAYER.
“We are really proud of setting up this joint venture. By pooling our strengths, we will be able to even better support our customers, being close to them in the local market,” he said.
The special contribution of KARL MAYER and RABATEX INDUSTRIES to the joint venture will be production know-how and manufacturing capabilities in the sector of warp preparation machines.
“Both companies are important players in the warp preparation industry,” added Roland Kohn, President of the Business Unit Warp Preparation of the KARL MAYER Group.
KARL MAYER is recognized as a leading and innovative machine manufacturer in the world market in all the areas it is active in.
A.T.E. enriches the group due to its proximity to the market and its strength in customer support. The company has already been KARL MAYER’s distribution partner for many years.
“We are honoured to deepen our relationship with KARL MAYER and start a new relationship with RABATEX INDUSTRIES with this new joint venture. We thank our many customers that have encouraged us to take this step with their continuous support. We are confident we will be able to serve them better,” said Anuj Bhagwati, Managing Director of A.T.E.
Dr. Pawan Kumar Singh, Managing Director of KARL MAYER Textile Machinery India Private Limited, underlined “We are striving for market leadership in India and supporting the ‘MAKE IN INDIA’ initiative of the Government of India. By combining our know-how and our resources in the field of warp preparation machines, we can provide solutions to our customers with exactly those things which they require for their competitiveness, from production to customer service and support”.
RABATEX INDUSTRIES also relies on the synergies of the new relationship.
“RABATEX INDUSTRIES is excited about this association with KARL MAYER, a technology leader in warp preparation machine industry and A.T.E., India’s leading customer focused textile machinery marketer. Our respective strengths will help us in providing advanced technology machinery backed by professional aftersales service to the Indian textile industry,” said Haresh Panchal, Managing Partner of RABATEX INDUSTRIES. fiinews.com
