Indian molder Jyoti Plastic Works Pvt. Ltd. has an NPE2009 agenda a little broader than just making a sale.
The firm is scouting for potential acquisitions or joint venture partners in the United States.
Jyoti of Mumbai (Booth W103039), which says it is maintaining 20 percent annual growth in sales on the strength of the Indian economy and some recession-resistant markets like water treatment, thinks the U.S. recession offers opportunities to buy or partner with toolmakers, molding companies or design houses to build its customer base.
Fortunately for us, being in India, the domestic market is very strong, and the impact of the economy on our business is not that significant, said Ashish Desai, director of the firm.
The firm has about $10 million in annual sales, with 25 injection presses from 50-700 tons of clamping force and about 400 employees. It plans to add five molding machines this year.
Jyoti also has compounding capabilities, a tool shop and product design capabilities it established in 2005, part of a push to provide a broad range of services, Desai said. He said the company wants to become larger and sees international expansion as its key.
When you want to build scale, you have to go across the border you can't just look to the domestic market, Desai said. We are scoping the market for any business we can buy or joint venture with to get access to the customer base.
Desai said Jyoti has seen some slowdown in parts of its export business, but it is also seeing more interest from foreign firms interested in cutting costs and looking at India.
The company works in a variety of injection molding markets, from water filtration and treatment to automobiles and fittings for pipes. It also manufactures fiber-reinforced plastic parts, including nose cones for wind turbines, both for India and export.
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