Home / NEWS / MEP / Hyundai, Kinetic sign tech pact

The new JV company will be the hub for HELCO's India operations

South Korea’s Hyundai Elevator Company (HELCO), a leading manufacturer & pioneers of elevators and escalators & travellators, has decided to enter into a joint venture with India’s Kinetic Elevator & Escalator Limited (KEEL).

The joint venture company will roll out various Moving Technology products from Hyundai’s stable including escalators, elevators, car parking systems, platform screen doors for metro rail transport, moving walks, material handling systems and related products.

Under the new arrangement, Hyundai will acquire a 40% equity stake in KEEL, and the company will be renamed ‘Kinetic Hyundai Elevator and Movement Technologies Ltd.’ The JV company will be the hub for HELCO’s India operations and will offer technologically advanced products to India’s infrastructure & construction companies.

Advertisement

COMMENT Comment on this article

The two companies have had collaboration for ten years with KEEL acting as Hyundai Elevators’ exclusive India distribution partner, catering to high-rise, high speed & premium elevator market segment. 

KEEL has installed about 1000 units across India, while an additional 350 units are under installation.

Kinetic Hyundai Elevator and Movement Technologies Ltd. will be based at Pune and will have an all India presence for marketing and servicing various products.

---