Italtractor ITM SpA ("ITM") and Dozco (India) Pvt.Ltd ("Dozco") have announced the creation of a joint company called ITM Dozco Pvt. Ltd. The intention is to create a leading manufacturer of undercarriage components in India to optimize service for both local and global customers. It will offer a full range of undercarriage components and complete track system for earthmoving machines. The joint venture will cover the Indian market needs as well as requirements for global customers across all industries.
This agreement follows years of successful cooperation between ITM and Dozco. "By leveraging ITM's expertise in undercarriage production and design as well as Dozco's market knowledge and service capability, we will be able to offer our customers a significant improvement in operational efficiency and quality service. This reinforces ITM's position as a global player and key partner in the world of undercarriage components" said Maria Cecilia La Manna, Chief Executive Officer of ITM.
"Dozco, a reputed Indian manufacturer of Mining & Construction Equipment, Attachments & Components, joining forces with ITM, an international leader for manufacturing undercarriage components to meet the global demand, is a milestone in the Honourable Prime Minister's "Make in India" initiative. This will be a boon to the quality and critical component starved customers. The world will reap the benefit with this joining hands of two respected and renowned leaders in their field," said N.G. Bangur, Director of Dozco.
Khaitan & Co represented Italtractor ITM SpA on this deal.
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