Manuli Ryco in JV deal to manufacture hydraulic hoses in India

Milan, Italy – Manuli Ryco has closed a joint venture arrangement with Indian investment entity Labha Global to expand its manufacturing footprint of hydraulic hoses in India.

As part of the deal, announced 8 April, Manuli Ryco will now own 51% of the share capital of Mithra Fluidtrans Pvt Ltd, an Indian manufacturer of hydraulic and industrial hoses.

Labha Global will retain the remaining 49% stake in the joint venture.

The JV will carry business under the name “Manuli Ryco Labha Private Ltd,” subject to regulatory approvals.

The investment is intended to “provide more choice” to the Indian customers, through sharing the technical and local expertise of both partners.

As part of the move, the JV partners ‘expand and modernise’ an existing hose manufacturing plant located in the Krishna district of the state of Andhra Pradesh, with the aim to create a “world class facility.”

The revamped hose plant will also be integrated into the global network of the Manuli Ryco group.