HMT's MoU with Pegard Products

HMT Limited entered into an MoU with Pegard Productics SA, Belgium, at the Hannover Fair held in Germany.

State owned HMT Limited entered into an MoU with Pegard Productics SA, Belgium, at the Hannover Fair held in Germany.

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HMT Limited Chairman and Managing Director M S Zahed signed the MoU with Pegard SA, Belgium, Managing Director Marc Ichau, a company release said on Monday.

The MoU envisages manufacture and supply of upgraded range of Boring Machines of Pegard make of HMT in India and abroad. The two companies would also explore business opportunities, undertake joint manufacturing and supply of specific range of Pegard machines and accessories related to market requirements to Indian and overseas customers through technology transfer, it said.

Technology acquisition for supply of high-end machines has been one of the key strategies adopted by the company to focus on the requirements of strategic sectors such as aerospce, aviation, apart from the auto and auto component manufacturing sectors, it said.