Taiwanese major Yeong Chin Machinery (YCM) Industries has inked an agreement with Coimbatore-based S&T Engineers (P) Ltd for creation of a joint venture company in India.

Through this partnership, they plan to produce CNC vertical machining centres and associated services, with the partners focussing on their respective strengths and improving their market share in the Indian machine tool industry.

While YCM has agreed to share its expertise and technologies, S&T Engineers would share its service experience and application expertise within the machine tool sector, a release issued by the partners said.