Kobe Steel,Ltd. announced that it had signed a memorandum of understanding with India's Kirloskar Pneumatic to assess strategic collaboration in the non-standard compressor business. The two companies will consider ways to cooperate with the aim of strengthening their business base in the Indian market.
On the 27th, Kobe Steel,Ltd. signed a memorandum of understanding with India's Kirloskar Pneumatic to assess strategic collaboration in the non-standard compressor business in the Indian market. This marks the first step toward establishing a local cooperation framework.
The two companies aim to strengthen their business base and competitiveness in India, where market growth is continuing, by combining the customer base, sales network, local sourcing and production capabilities developed by the Kirloskar Group with Kobe Steel,Ltd.'s technology and product capabilities in non-standard compressors.
The focus will be on expanding business primarily in the oil and gas and petrochemical sectors, while also creating new business opportunities in carbon-neutral fields. The companies are expected to proceed with discussions on specific areas of cooperation.
The move is positioned as part of Kobe Steel,Ltd.'s efforts to strengthen its consolidated businesses and is intended to establish a long-term cooperation framework aimed at improving the competitiveness of its compressor business in the Indian market.