Setco, Lingotes Especiales enter into 30 million euros JV

By admin June 26, 2014 4:18 am IST

 Setco Automotive Ltd (Setco) and Lingotes Especiales S.A. (Lingotes) announced the formation of a 30 million Euros joint venture over 3 years called Lava Cast Pvt. Ltd., focused on developing and manufacturing fully machined ferrous casting products for the automotive and other industries.
The JV company will have equity participation by both companies. As part of this agreement, Lingotes Especiales will come on board of Lava Cast as the Technology Partner. The proposed foundry will start commercial production in one year.

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