Lloyds Engineering Works partners Japanese TB Global Technologies
Technology

Lloyds Engineering Works partners Japanese TB Global Technologies

This agreement signifies a strategic partnership aimed at manufacturing, selling, and maintaining various TBG products in the Indian market

  • By ICN Bureau | October 21, 2023

Lloyds Engineering Works Limited (LEWL), a leading provider of engineering solutions, has announced the formalisation of a definitive agreement with TB Global Technologies Ltd (TBG), a prominent Japanese company formed through the merger of Tokyo Boeki Machinery Ltd and Tokyo Boeki Engineering Ltd. This agreement signifies a strategic partnership aimed at manufacturing, selling, and maintaining various TBG products in the Indian market.

TBG, renowned for its expertise in supplying equipment for the Oil and gas sector, holds a significant market share in Japan for its essential products-loading arms and swivel joints. This collaboration allows LEWL to offer these products under the brand "TBNIIGATA Lloyds" in India, expanding LEWL's product portfolio and bolstering its position in the industry.

Mukesh Gupta, Chairman of Lloyds Engineering Works Limited, expressed his enthusiasm about the partnership, stating, "LEWL is very excited and upbeat about this arrangement. This will be a substantial opportunity for LEWL in the coming years. This product will easily establish its presence with our company already empanelled among various institutions."

LEWL has been supplying loading arms in the Indian market and is empanelled with significant companies. TBG loading arms are not limited to marine transportation but extend to land transportation, used for loading and unloading tank containers for tank lorries and rail tankers. Specifically designed to handle oil, gas, petrochemicals, and a wide range of fluids across high to cryogenic temperatures, these loading arms are set to convincingly meet India's rising demand for oil and gas containers. Hydrocarbon & Marine currently constitutes approximately 15% of LEWL's order book, and this collaboration positions LEWL favourably to capture a larger market share with customised offerings.

Furthermore, this strategic partnership is poised to lead to the indigenisation of various components, aligning with the overall vision of Atmanirbha Bharat. LEWL aims to achieve over 70% indigenously manufactured components, contributing to the growth of the nation's industrial landscape.

In addition to this collaboration, LEWL recently entered a Memorandum of Understanding (MOU) with The Material Works Ltd (TMW) for the transfer of cuttingedge and environmentally friendly technology, Eco Pickled Surface (EPS Gen 4). These initiatives affirm LEWL's commitment to delivering excellent products and upscaled services to its clients in the Indian market.

Gupta emphasised, "We are on a path of providing excellent products and upscaled services to our existing and prospective clients in the Indian market. We are very excited and confident about the prospects of LEWL in the coming years as we scale leaps forward and march towards consistent growth and profitability. Our endeavour remains centred on maintaining top-notch quality, offering the most competitive pricing, ensuring superior margins, and being our clients' primary engineering solutions provider. Additionally, we aspire to expand our export portfolio progressively".

This partnership marks a significant milestone for LEWL, aligning with its growth strategy and commitment to providing innovative solutions to the Indian market.

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