Addressing a well attended gathering shortly after sealing the joint venture, the Chairman reiterated that the JV between the two companies combine the best-in-class technology and product knowledge of EJOT with the market comprehension of LPS, is set to establish a new benchmark for quality assurance, quality control and delivering customized solutions to customers strictly adhering to the timelines and demanding situations. "In fact, this is a significant development for LPS as it is an honor to announce this venture at this point of time when Indian government is going all out to match its infrastructure deficit. The JV will provide a superior experience to our existing and potential customers in India and its neighboring countries not just by way of delivering high end quality products but also making available solutions that have been tested, tried and approved globally for the demanding applications," said Mr. Lalit Kumar Jain, Chairman and Managing Director, LPS.
Driving home his viewpoint, he said that the Indo-German joint venture is the first of its kind in the organized construction fastener segment in the country. The solutions will be manufactured, marketed and customized by LPS using its expertise from the in-depth product and market knowledge, dynamics and technical know- how offered by EJOT. In its entirety, both the players bring more than 150 years of product innovation, management and marketing experience in the fastening segment and the combine is committed and confident of providing optimal value to its customers.
The Chief Executive Officer, EJOT, Christian F Kocherscheidt, in his speech expressed happiness to be in India with a trusted tried brand of LPS stature in the domestic market for decades. EJOT together with LPS will provide optimized solutions to customers in India through its innovative approach to product design and development drawn from its experience and expertise of operating over 31 countries across the globe. In fact, for quite some time EJOT was looking for a technology partner in the Construction Fastener segment in India and now this JV will provide the right direction and impetus for a solution oriented approach to products and services in the Indian market.
While Managing Director, EJOT, Middle East FZE, Dirk Homrighausen, in his address said that the newly sealed partnership will showcase the combine as a leading solution provider that brings the best of global technology with a tried, tested, proven and well entrenched local partner of LPS repute. EJOT, which has its origin in making screws and nails in South Westphalia, through expansion acquisitions and diversification developed the parent company into the stature of current conglomerate with 20 distribution and production companies and is commanding leadership position in fastening technology in the European market and making availability its products and technologies for its customers around the world.
Earlier in the day in his opening remarks Mr. Jain explained that the joint venture partners will manufacture range of products and solutions in LPS plant at Rohtak in Haryana on the outskirts of Delhi in India and will distribute through its well oiled and extensive sales and distribution network. The JV will cater to Construction fastening Solutions for Industrial Lightweight buildings, ETICS – (External Thermal Insulation Composite Systems- Special Anchors for Insulation), Solar Fasteners (specialized solar application for PEB and flat roofs), IFF - Industrial Windows and Façade, Rear Ventilated Façade (Anchors for fixing substructures and façade facial) and solutions for Flat Roofing.
Responding to a poser from MGS Architecture about the quality and cost conscious of the Indian customers, Chief Executive Officer, EJOT, Christian F Kocherscheidt, replied that the JV partners command considerable experience and know-how to meet the exact aspirations of the Indian customers on this score. Moreover, EJOT, which enjoys in- depth, hi-tech and dynamic knowledge of centuries and is in a leadership position in the European world, will readily offer its expertise to the Indian partner. The alliance will provide an added momentum to the manufacturing and marketing of the product as both the partners enjoy leadership positions in their respective geographies, he claimed.
During one to one interaction with MGS Architecture, Managing Director, EJOT, Middle East FZE, Dirk Homrighausen, explained that despite the prevailing global turmoil tremors, his company is very optimistic on the Indian market as the government in India has committed to spend 65% of its total investment in the infrastructure and construction sectors, which in turn opens up huge business opportunities for global players. In view of this, EJOT in partnership with its Indian players will make India its manufacturing hub and to achieve that it may consider the setting up of research and development center and new world-class manufacturing plants in the country in the near future, he said.