Lakshmi Precision Screws Limited, a leading brand in automotive and industrial fasteners, recently entered into a joint venture with EJOT Germany Gmbh, the European market leader in fastening technology.
A press statement issued on the occasion said that the JV combined best-in-class technology and product knowledge of EJOT with the market comprehension of LPS, establishing a new benchmark for quality assurance, quality control and timely delivery of customized solutions to customers. It is the first Indo-German joint venture in the organized construction fastener segment in India.
“This is a significant development for LPS and it is an honor to announce this venture at this point in time. The JV will provide a superior experience to our existing and potential customers in India and neighboring countries, not only by way of high end products but also by way of solutions that have been tested and approved globally by the most demanding applications. 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,” said Lalit Kumar Jain, Chairman and Managing Director, LPS.
LPS will manufacture, market and customize the solutions drawing from the in-depth product and market knowledge, dynamics and technical know- how and transfer offered by EJOT.
“We are happy to be in India with LPS, a trusted name in the Indian market for decades. Together with LPS, we will provide optimized 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,” said Christian F Kocherscheidt, Chief Executive Officer, EJOT.
The line of products and solutions from LPS EJOT will be manufactured at LPS Rohtak (Haryana) plants and distributed through the extensive sales and distribution network of LPS. 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 facia) and solutions for flat roofing.
“There was a definite need for an able technology partner in the construction fastener segment and our joint venture with EJOT will provide the right direction and impetus for a solution oriented approach to products and services in the Indian market,” said Gautam Jain, Managing Director of LPS EJOT Fastening Systems Pvt. Ltd.