DesignTech Systems inks JV pact with Integrity Tool and Mold
July 16, 2015 10:43 am
DesignTech Systems Ltd., a leading CAD/CAM/CAE, additive manufacturing technologies and engineering services provider in India, announced a joint venture (JV) with Integrity Tool and Mold Inc.
DesignTech will hold 45 per cent stake in the JV, whereas 55 per cent will be owned by Integrity Tool and Mold INC.
Integrity Tool and Mold is a major automotive mould, tool and die manufacturing companies in North America. Integrity is headquartered in Canada with large operations presence even in United States of America and Mexico.
DesignTech Integrity Tool and Mold Inc. plan to expand their operations in India by initially setting up a large engineering team to cater to various mould design and mould engineering aspects for ITM global clients. The JV will be later expanded to add manufacturing facility to offer local mould manufacturing and mould maintenance services.
Commenting on the occasion, Scott Allen, General Manager, Integrity Tool and Mold Inc., said, “The JV has started operations with a small team, trained in Integrity Canada to meet ITM global mould design standards. We anticipate a multi-fold growth in the team size in the coming years.”
Atul Marwaha, Sr. Vice President – International Business at DesignTech Systems Ltd. commented, “Under this JV, we will not only be working for ITM global engineering requirements, but we also plan to use this as a launch pad for expanding mould design and manufacturing services in Asia. Integrity is renowned to provide highest quality, scale, and value to its customers and has capacity to develop highly specialised tooling that can range from 200 to 3,000 tonnes presses.”