Pune, India, July 8, 2015: DesignTech Systems Ltd. a leading CAD/CAM/CAE, Additive Manufacturing Technologies and Engineering Services provider in India inks a Joint Venture with Integrity Tool and Mold Inc. Integrity Tool and Mold is the largest Automotive Mold, tool and Die manufacturing Companies in North America. Integrity is headquartered in Canada with large operations presence even in United States of America & Mexico.
In this Joint Venture DesignTech will hold 45% stake, where as 55% will be owned by Integrity Tool and Mold INC.
On this occasion, Scott Allen, General Manager, Integrity Tool and Mold Inc., stated, “We are very happy to sign up a Joint Venture with DesignTech Systems. DesignTech has been our extended arm in Mold design and engineering for last few years and with increasing demand from our customer to offer global support, the JV will be an important step towards expanding our reach beyond American subcontinent. The JV has started operations with a small team, trained in Integrity Canada to meet ITM global mold design standards and we anticipate a multifold growth in the team size in the coming years. This engagement will help us expedite our product development process with more hands working on our projects and will also reduce our cost of operations and development. Geographically distributed work force will help us address our customers’ requirements faster and we will be able to hit the Market early. Engineers at our JV are well experienced and committed to work, which will ensure we meet our product delivery and quality timelines and standards. With this we will be able to spread our operations further to start catering to a larger Market with a confidence of a bigger engine powering this growth at the backend.”
Integrity is into development of specialized and high end Molds, tools and dies making them a leader in their segment in the North American Market.
Atul Marwaha, Sr. Vice President – International Business at DesignTech Systems Ltd. expressed his happiness exclaiming, “We are very proud to be associated with such an eminent company of their stature. We had been doing business with Integrity since late 2011 and we started with catering to their requirements on case to case basis. Soon we had setup a team of specialists exclusively working for ITM and the model was extremely successful. This prompted both DesignTech and ITM to take this association to the next level. We are extremely happy to get into a Joint Venture with them and establish this new identity of Integrity DesignTech Tool and Mold Inc. Under this JV, we will not only be working for ITM global engineering requirements, but we also plan to use this as a launch pad for expanding mold design and manufacturing services in Asia. Integrity is renowned to provide highest quality, scale, and value to it’s customers and has capacity to develop highly specialized tooling that can range from 200 to 3000 ton presses. With plants and facilities in various locations in Canada, USA and Mexico, together they have a reputation of being the best in their field. Thus this JV is a big milestone for us and we hope this association will keep growing in the near future.”
DesignTech Integrity Tool and Mold Inc. plan to expand their operations in INDIA by initially setting up a large engineering team to cater to various mold design and mold engineering aspects for ITM global clients. The JV will be later expanded to add manufacturing facility to offer local mold manufacturing and mold maintenance services.
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