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Japan's KYB Corp exits its 51% stake in JV with Conmat
Mint Bangalore
|February 18, 2025
India's concrete equipment market is expected to grow to ₹230 billion from ₹88 billion, in four years
KYB Corp., a Japanese behemoth in concrete equipment, has exited its 51% stake in the joint venture with Premraj Keshyep-led Conmat Group, which has reclaimed it, the companies said in a statement on Monday.
The joint entity KYB Conmat Pvt. Ltd is a major market player in India and one of the top three manufacturers of concrete construction equipment, such as batching plants, paving machines, transit mixers, concrete pumps, and self-loading mixers.
It competes against other home-grown entities, such as Kedaara-backed Ajax Engineering, which went public on Monday, and Chinese-owned Schwing Stetter & Sany Heavy Industries.
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