India Metal Fabrication News

Related Metal Working and Fabrication Industry News

• October 2023: JSP’s Angul unit, located in Odisha, was set to become India’s biggest single-location steel manufacturing plant. The capacity of the current Angul plant is estimated to be 5.6 mtpa per annum. However, the plan was to double it to 11 mtpa and 24 mtpa by 2023 and 2027, respectively. JSP’s steel plant, located in Raghurhat, was also expected to expand its capacity from 3.6 tpa per annum to 9 tpa by 2023. JSP finalized trial production at Angul in 2023 and commercial production by 2024. Jindal Steel and Power expects the Indian steel industry to grow in line with government infrastructure projects and domestic demand.
• July 2023: ArcelorMittal Nippon Steel India( AM/ NS India) - a joint venture between ArcelorMittal and Nippon Steel, two of the world's leading steelmakers - and Festo India, the world's leading manufacturer and supplier of automation technology and specialized education, announced signing an MoU at the Festo Corporate Center in Stuttgart, Germany. The cooperation will concentrate on the development of the New Age Makers Institute of Technology( NAMTECH), an ArcelorMittal Nippon Steel India education initiative aimed at delivering an integrated model of high-quality engineering and specialized education, with special emphasis on manufacturing and sustainability. NAMTECH started operating an interim campus in the Research Park at IIT Gandhinagar, Gujarat, in August 2023.

• Jun 2023: In order to expand its production, E and H Precision will set up a new factory. The new factory is called “Factory 3”, which is the fourth location in Thailand. The factory covers an area of 3,500 sqm and houses 24 CNC Lathe Machines with Centerless Grinding Machines and Ultrasonic Wash Machines. The main purpose of the factory is to produce the lathe-turned parts for the automotive transmission as well as the injectors for the Japanese and the United States markets.
• Nov 2022: Middle market private equity firm One Equity Partners announced the acquisition of precision machining service providers Evans Industries Inc. and Little Enterprises LLC by Momentum Manufacturing Group, a leading North American metal manufacturing services provider. The purchases extend Momentum's capabilities, increase the company's exposure to mission-critical end markets, and add close to 160 qualified team members.
• Jan 2022: The Precision Machining division of the Mercedes Benz Truck Factory was purchased by Balu Forge Industries Ltd (BFIL) from Mannheim, Germany. The purchase will be integrated into BFIL's brand-new machining facilities in Belgaum, Karnataka, and will solidify the business's status as a global leader in precision manufacturing. BFIL will also be able to produce crankshafts and other precision machined parts for original equipment producers of class 7 and class 8 trucks and heavy-duty vehicles due to the expansion.

Jun 2022: Vancouver-based BM Group acquired LE Steel Fabricators Ltd. This acquisition will give them the opportunity to enter an existing sector from a different angle while carrying out more substantial repair and restoration operations. Additionally, BM Group's clients benefit from cost reductions, efficiency, and other advantages as a result of its strong financial position and varied portfolio of companies.

Apr 2022: Terex announced the acquisition of Steelweld, a large parts manufacturer based in Northern Ireland. The acquisition of Steelweld will support Materials Processing's growth strategy by increasing its manufacturing capacity in Northern Ireland.

• October 2023: JSP’s Angul unit, located in Odisha, was set to become India’s biggest single-location steel manufacturing plant. The capacity of the current Angul plant is estimated to be 5.6 mtpa per annum. However, the plan was to double it to 11 mtpa and 24 mtpa by 2023 and 2027, respectively. JSP’s steel plant, located in Raghurhat, was also expected to expand its capacity from 3.6 tpa per annum to 9 tpa by 2023. JSP finalized trial production at Angul in 2023 and commercial production by 2024. Jindal Steel and Power expects the Indian steel industry to grow in line with government infrastructure projects and domestic demand.
• July 2023: ArcelorMittal Nippon Steel India( AM/ NS India) - a joint venture between ArcelorMittal and Nippon Steel, two of the world's leading steelmakers - and Festo India, the world's leading manufacturer and supplier of automation technology and specialized education, announced signing an MoU at the Festo Corporate Center in Stuttgart, Germany. The cooperation will concentrate on the development of the New Age Makers Institute of Technology( NAMTECH), an ArcelorMittal Nippon Steel India education initiative aimed at delivering an integrated model of high-quality engineering and specialized education, with special emphasis on manufacturing and sustainability. NAMTECH started operating an interim campus in the Research Park at IIT Gandhinagar, Gujarat, in August 2023.

• February 2023: Huntsman Corporation (NYSE: HUN) announced that it has completed the sale of its Textile Effects division to Archroma, a portfolio company of SK Capital Partners. The agreed purchase price was USD 593 million in cash plus assumed pension liabilities. Huntsman expects the net after-tax cash proceeds to be approximately USD 540 million before customary post-closing adjustments.
• December 2022: India and Canada are negotiating a free trade agreement (FTA) to boost bilateral trade. The Indian textile industry has suggested various rules related to the agreement. The conditions of the proposed FTA will determine if it will help get more export orders. Currently, India’s apparel exports to Canada are negligible.
• August 2022: Huntsman Corporation, an American multinational manufacturer and marketer of chemical products, has announced that Archroma, a global leader in sustainable specialty chemicals and solutions and a portfolio company of the US-based private investment firm SK Capital Partners, has entered into a definitive agreement to acquire the Textile Effects business.

• Jun 2023: In order to expand its production, E and H Precision will set up a new factory. The new factory is called “Factory 3”, which is the fourth location in Thailand. The factory covers an area of 3,500 sqm and houses 24 CNC Lathe Machines with Centerless Grinding Machines and Ultrasonic Wash Machines. The main purpose of the factory is to produce the lathe-turned parts for the automotive transmission as well as the injectors for the Japanese and the United States markets.
• Nov 2022: Middle market private equity firm One Equity Partners announced the acquisition of precision machining service providers Evans Industries Inc. and Little Enterprises LLC by Momentum Manufacturing Group, a leading North American metal manufacturing services provider. The purchases extend Momentum's capabilities, increase the company's exposure to mission-critical end markets, and add close to 160 qualified team members.
• Jan 2022: The Precision Machining division of the Mercedes Benz Truck Factory was purchased by Balu Forge Industries Ltd (BFIL) from Mannheim, Germany. The purchase will be integrated into BFIL's brand-new machining facilities in Belgaum, Karnataka, and will solidify the business's status as a global leader in precision manufacturing. BFIL will also be able to produce crankshafts and other precision machined parts for original equipment producers of class 7 and class 8 trucks and heavy-duty vehicles due to the expansion.

Jun 2022: Vancouver-based BM Group acquired LE Steel Fabricators Ltd. This acquisition will give them the opportunity to enter an existing sector from a different angle while carrying out more substantial repair and restoration operations. Additionally, BM Group's clients benefit from cost reductions, efficiency, and other advantages as a result of its strong financial position and varied portfolio of companies.

Apr 2022: Terex announced the acquisition of Steelweld, a large parts manufacturer based in Northern Ireland. The acquisition of Steelweld will support Materials Processing's growth strategy by increasing its manufacturing capacity in Northern Ireland.

Feb 2022: Cotton & Textiles Holding Company partnered with Rieter Group and signed a contract.

Jan 2022: Mediterranean Textile Co. reinvented Giza Cotton to expand its market possibilities and relevance to emerging market trends.

• In Feb 2021, The Indian Government has announced the setting up of seven mega textile parks in the next three years. The government has also decided to rationalize the duties on raw material inputs to manmade textiles by reducing the customs duty rate on caprolactam, nylon chips, and nylon fiber and yarn to 5 %.
• In Feb 2021, Paraguay's Ministry of Industry and Commerce announced that it will be investing USD 1.1 million in the manufacturing sector, mainly benefiting the clothing, textiles, and footwear industries, among other areas related to assembly operations.

• In February 2022, Element Six UK Ltd collaborated with II-VI Inc. Through this collaboration, II-VI licenses Element Six's intellectual property and necessary equipment would produce high-quality single-crystal diamonds to expand its core competency in diamond technology.
• In July 2021, Element Six UK LTD and the University of Warwick entered a partnership to develop the next generation of synthetic diamond-enabled technologies. Under this partnership, Element Six applied its renowned expertise and capabilities in advanced material solutions.