ERJ staff report (DS)
Kolkata, India -- Sumitomo Electric Industries, has extended a technical agreement with its Indian partner and will establish a joint venture to manufacture air springs for the railway market in India. The joint venture is expected to export components back to Japan.
Sumitomo Electric signed an agreement in November 2007 with Stone India, allowing Stone to assemble kits of parts shipped from Sumitomo. Shortly aftwerwards, Stone began suplying air springs to the Indian market.
The agreement is being extended, from 15 Feb 2010 to make air springs at an Indian joint venture plant which will be built and expanded in a series of phases. This process will start with Stone India exporting metal parts of Air Springs to Sumitomo Electric Industries, Japan and will finally culminate in a Joint Venture between the two companies in near future.
The two companies in tend to set up a full manufactiuring joint venture in India
The Company earlier had entered into a separate agreement with Tokai Rubber Industries, Japan, a subsidiary of Sumitomo Electric Industries for supply of Conical Springs for Primary Suspension system of Railways. This will help the Company to provide complete end-to-end solution of Pneumatic Suspension System to Railways through supply of Primary, Secondary, Suspension products and pneumatic control system with in-built failure detection device.
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Press release from Stone