Guangdong Yizumi Group, the industry leading compression molding machinery manufacturer, announced that it would open a joint venture company with natural person Varadan Ramesh in India, the registered investment reached 3 million USD.
According to the announcement, Yizumi’s 2,700,000 USD investment accounts for 90% of the total investment, and Varadan Ramesh’s investment is 300,000 USD, which is 10%. The new company will be built in Ahmedabad, Gujarat, mainly engaging in the research, production of servo high-precision plastic injection machine and die casting machines, providing relative application and technical consultation.
This is an important step of Yizumi to expand in India. Li Qianhu, deputy general manager of die casting business department, said Yizumi would set up a plant in India this year.
According to Yizumi, this investment is an important move of its international strategy, in line with the “Belt and Road” initiative. The company can also take this opportunity to tap the potential along the “Belt and Road”, which is beneficial to accelerate the overseas expansion and improve international level.