Coimbatore : City-based S and T Engineers Ltd is forming a joint venture with Taiwanese CNC major,Yeong Chin Machinery Industries Company Ltd (YCM) to manufacture and deliver CNC vertical machining centres and associated services.

The joint venture intended to focus on both the companies’ strengths andreach out to capture more market share in the Indian machine tool Industry, a company statement said on Wednesday. .

Under the agreement signed recently, YCM and S&T Engineers will share financial and technological resources. “We are delighted to partner with YCM, one of the largest CNC machine makers in the world. I believe, it is a perfect match for the Indian market as YCM is known for making affordable high-end machines and our strength lies in our wider reach in Indian market, skilled sales and services engineers and knowhow about the Indian market,” S and T Managing Director D Shanmugasundaram said.

YCM had committed to provide its unique expertise and technologies as a contribution to the JV’s activities.

“Looking at the growth in Indian manufacturing industry, we are very much confident about the Indian machine tool market. Together with S&T Engineers, we can become a major player in India with our excellent technology backed by S&T’s strong sales & application support,” said YCM president Rick.

S&T Engineers has been engaged in sourcing and offering machine tools and accessories and consumables to its valued customers for the last 23 years.