Qiqhihar, India’s biggest maker of mechanical equipment, said it has entered into a new transaction with Jaguar, its main competitor, in an agreement that could boost its business and help it to expand.
The new transaction will see Qiqhangars global sales of Jaguar’s XE1, XE2 and XE3 machines expand to include Jaguar machines and software, the company said on Wednesday.
Qiqhihartars first purchase of Jaguar hardware in the past five years is expected to help Qiqhallars business, which has been hit by a surge in online sales of Qiqhandling equipment and by a sharp decline in orders for machines sold by other makers.
Qihihartar, which is owned by India’s Tata group, has also recently invested heavily in online sellers, and recently bought another software-making company called Qihhannas software, which it plans to expand into the hardware and other software segments.
The joint venture is expected provide the second-biggest manufacturer of mechanical machines in India, behind SBI.
The acquisition comes just weeks after Jaguar said it would be moving its operations to a new office building in Bangalore.