Lakshmi Precision Screws inks JV with EJOT

September 12, 2013 10:45 am

Lakshmi Precision Screws Ltd., one of leading brands in automotive and industrial fasteners in India, has announced its joint venture with EJOT Germany Gmbh, one of the leading European groups in the construction fastening market.The JV combines best-in-class technology and product knowledge of EJOT with the market comprehension of LPS, thereby establishing a new benchmark for quality assurance, quality control and timely delivery of customised solutions to customers.Speaking on the occasion, Lalit Kumar Jain, Chairman and Managing Director, LPS said, “This is a significant development for LPS, and it is an honour to announce this venture at this point in time. LPS and EJOT bring more than 150 years of product innovation, management and marketing experience in the fastening segment, and we are confident of providing optimal value to our customers.”The JV is the first Indo-German joint venture in the organised construction fastener segment in India. The solutions will be manufactured, marketed and customised by LPS drawing from the in-depth product and market knowledge, dynamics and technical know-how and transfer offered by EJOT.Christian F Kocherscheidt, Chief Executive Officer, EJOT, said, “We are happy to be in India with LPS, a trusted name in the Indian market for decades. Together with LPS, we will provide optimised solutions to customers in India through our innovative approach to product design and development drawn from our experience of operating in more than 31 countries around the world.”The JV will cater to construction fastening solutions for industrial lightweight buildings, external thermal insulation composite systems, solar fasteners etc.