Karl Mayer has set up a joint venture in India along with ATE Enterprises and Rabatex. The new company, known as Karl Mayer Textile Machinery India, has its registered office in Mumbai and production facility in Ahmedabad. Karl Mayer is the majority shareholder with 76 per cent holding and takes responsibility for the management of the new company. Rabatex and ATE hold 12 per cent each. The joint venture currently employs 50 people. Karl Mayer Textile Machinery India will focus on the manufacturing and sale of warp preparation machines and creels for the Indian market.
Karl Mayer, a technology driven company, is a global leader in warp knitting and warp preparatory machines. Rabatex has nearly six decades of experience in frugal Indian engineering and manufacturing competence. ATE has been the Indian partner of Karl Mayer for seven decades and has sales network and connections with customers across India. The venture aims at enhancing the position and distribution of Karl Mayer, ATE and Rabatex in the Indian market. Moreover, it is intended to make good use of the existing competencies and synergies, especially in terms of purchasing and customer service.
India is among the top markets for Karl Mayer and contributes 30 per cent of its global revenues.