STOCK MARKET BSE NSE

HMT Machine Tools Ltd Inks Pact with Foreign Firms

Published: 06th September 2014 06:21 AM  |   Last Updated: 06th September 2014 06:21 AM   |  A+A-

KOCHI: HMT Machine Tools Limited targets Rs 2000 cr revenue by 2020 with various projects in the pipeline, said company managing director B M Shivashankar at a press conference here on Friday.

He added that the company has signed a memorandum of understanding for 11 joint-venture projects with foreign companies.

“The policy of the Central Government is to develop indigenous products for defence and atomic energy sectors. In line with the policy of the government to collaborate with foreign companies, HMT plans to develop products which are being imported now.

The MoU for technical exchange was signed with companies in the US, Japan and Germany,” he said.An agreement has been signed with Switzerland to develop the control system indigenously, which is used in HMT units across the country, including the one at Kalamasserry, he added.

“An MoU was signed with Chestnut company in the US to develop surveillance-rescue instrument used in ships.

“The HMT has reached agreements with software firms to produce training simulators for Navy and surveillance systems for the Coast Guard. The company had also produced stainless steel screws used in chambers of nuclear reactors,” Shivashankar said.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp