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Business EconomyPosted at: Feb 27 2019 12:25PM


Nadi Group announces JV with Antunes, US, to invest USD 5 mn over a period in India

Chennai, Feb 27 (UNI) Water filtration systems firm Nadi Group of
Companies on Wednesday announced a 65:35 Joint Venture (JV)
with Illinois USA based Antunes and would be investing USD five
million over a period of years in India.
Under the JV, Antunes would have 65 per cent stake and NADI Group
of companies 35 per cent.
Talking to reporters here, Mr J B Kamdar, Director of the newly formed
JV M/s Antunes-Nadi Manufacturing Company said to start with, it would
produce water filtration systems developed by Antunes for Indian and
African countries.
He said, the company would later expand its Madhavaram factory in
the city to provide commercial cooking equipment for its customers
like McDonald’s, Subway, Burger King, KFC etc.
He said Nadi was proud to be associated with Mr.Glenn Bullock
and Ms Jane Bullock, the owners of Antunes, because of their
professional commitment to provide high storage water filters,
table top cooking equipment and for their philanthropic activities.
To start with, the new JV would provide water filtration systems
using some of the available facilities at Nadi and the new
facilities created at Nadi-Antunes factory in Madhavaram on the
city outskirts, spread over 100,000 sqft in a five acre area.
Mr Daniel Schmidt, Director Antunes said ''we are happy to partner
with a quality driven company like Nadi for this new JV in India.''
Antunes has been in operation for more than 60 years and today
it manufactures a broad line of foodservice equipment, specializing
in countertop cooking and water filtration solutions for global
operations.
Mr Kamdar said in the current year Nadi has signed major contracts
with GE of USA and Alstom India to supply industrial fans for their
prestigious locomotive manufacturing projects for Indian Railways.
As part of an other diversification plans, Nadi has decided to join
hands with Antunes for manufacture of high quality water filtration
systems to provide clean drinking water to school children and
orphanages across Tamil Nadu to start with and then move on to
other parts of the country.
UNI GV 1220
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Tags: #Nadi Group announces JV with Antunes# US# to invest USD 5 mn over a period in India
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