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| Exchange Disseminated Time 31/01/2017 10:00:12 | Lokesh Machines Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 27, 2017, inter alia, has approved the following:
The Chairman informed to the board of Directors, Company has signed a landmark agreement with Tongtai Machine & Tool Co Ltd., Taiwan to manufacture the most popular Hi-Speed Vertical Machining Center Model EZ5 for the Indian market. The Company has made this strategic announcement during the ongoing machine tool fair IMTEX 2017. Lokesh Machines Limited is ranked as one of the top five Machine Tool Manufacturers in India. The Company takes pride in a worldwide client base and is a noted machine tool Manufacturer in India with a record of exports to Japan, Germany, Italy, Russia and other European Countries.
With a successful portfolio of products under its belt and with sound credentials of supplying several critical machines to the Indian Automobile, Energy, Aerospace Industries & also exporting machines to Japan, Germany, Italy, Russia, China & other European Countries, the Company wishes to leapfrog its technological base with some ultrahigh speed machines for new age metals and products.
Tongtai is one of the leading machine Tool Company in Taiwan and ranks amongst the Top machine tool companies in the world having various manufacturing facilities in Taiwan, France & Austria. Lokesh Machines is going to start manufacturing their most popular Hi-Speed Vertical Machining Center Model EZ5 for the Indian Market as well as for Re-export at their new facility at Kallakal, Hyderabad. Besides the EZ5, going forward Lokesh is also going to MAKE IN INDIA other Hi Technology machines of Tongtai for the GLOBAL markets. |
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