New Delhi — Chinese injection press maker Guangdong Only Machinery Co. Ltd. is negotiating with an Indian partner to strengthen its presence in the local market, the company said at a trade show in New Delhi in early March.
The Foshan-based company said it's looking for a partner to avoid India's high anti-dumping duties on Chinese made molding machines, but it's still studying the situation, said Marketing Director Joe Huang, in an interview at Plastasia 2016.
“We are looking for the best way forward,” he said. “Either it would be a manufacturing JV with a local partner or setting-up distribution network before making production foray at a later stage.”
Guangdong Only identified its negotiating partner as injection molding machinery company Guru Harkrishan Hydraulics, in Faridabad, in the north Indian state of Haryana.
The Chinese firm also makes presses with clamping forces from 70 to 450 metric tons for the South Korea firm Hyundai Injection Machinery Co. Ltd., and said it was also considering manufacturing machines for India in Hyundai's factory in Changnyeong-gun, South Korea, since South Korea is not covered under Indian anti-dumping duties.
India has imposed duties on injection presses from China, Taiwan, Vietnam and several other Southeast Asian countries.
Huang said the company hopes to make a decision later this year.
The Chinese company said it's focusing on exports given the slowdown in China's market. It exports more than 60 percent of its production, and has been known for developing the first digital disc injection molding machine in China in 2003.