Conmat, promoted by first generation Technopreneur Mr Premraj Keshyep, Vice Chairman-CII (Gujarat), acquires complete control in KYB Conmat Private Limited, from its Japanese JV partner- “USD 2.9 billion KYB Corporation,” in a unique transaction, wherein an Indian company has bought back controlling stake from a Japanese major partner.
KYB Conmat Private Limited is a major player in India and one of the top 3 manufacturers of Concrete Construction Equipment like Batching Plants, Paving Machines, Transit Mixers, Concrete Pumps and Self-Loading Mixers etc, competing against home grown , Kedara capital backed Ajax Engineering (which just went public), Chinese owned Schwing Stetter & Sany Heavy Industries.
The Joint Venture was formed in 2013 when KYB acquired 51% stake in fast growing and consistently profitable “Conmat Systems Private Limited” and was operated as a JV company for over a decade to produce transit mixers using KYB technology and other Products which were Indigenously developed by Conmat . The Company increased its revenue by 6 folds during this period.
The Concrete Construction Equipment Market in India is expected to grow from current INR 88 billion to approximately INR 230 billion by 2029 @ CAGR of ~21%. With its comprehensive range of Concrete Equipment and Services across the concrete value chain, the Company is fully geared up to capture this growth & triple its revenue to over INR 10 billion in the next two years.
With a strong workforce of 450 highly qualified professionals With its extensive Network of over 200 Sales & Service Engineers, 10 Domestic and 4 International Dealers, the Company is supplying its Products pan India and to over 25 Countries across the Globe.
