Toshiba Corporation has tied up with the elevator company, Johnson Lifts, to grow this business.
In the JV, Toshiba Johnson Elevators (India), the Johnson Lifts will hold a 49 per cent stake and Toshiba will hold the remaining 51 per cent stake. Initially, the partners have invested Rs 50 crore. Toshiba plans to focus on its niche in high-end elevators with Johnson handling the marketing, installation and maintenance. Johnson will also continue with production of its standard types.
Meanwhile, Toshiba Japan has partnered with the Chennai based fixture builder Forms and Gears to develop the set of hydraulic machining centre fixtures designed and developed in India. The fixtures will be over five mtrs long and would operate on high pressure hydraulics.