CDE - Ireland Forms Joint Venture Company In India
Award winning CDE Ireland, the Cookstown based designer and manufacturer of washing and screening machinery, has formed a joint venture company, CDE Asia Ltd, in India with Torsa Machines of Calcutta.
The new venture was announced today by Tony Convery, CDE Ireland’s Managing Director, as the company also signed a contract in the Middle East to manufacture the world’s biggest sand-washing systems, a deal worth almost £6 million in export sales to CDE. Both announcements were welcomed by Leslie Morrison, Invest NI Chief Executive.
Mr Convery, announcing the new company, said: “CDE Asia’s manufacturing facilities will exclusively serve the very dynamic markets in India and the surrounding area, and will strive to replicate the exceptional quality standards that CDE has achieved in its machinery developed for UK, Irish and other European customers.
“All production for the European, UK and Irish markets will continue to be sourced locally, and full support is being given to this new venture by CDE Ireland’s local suppliers.
“The joint venture is a very exciting development for us and is the logical extension of a partnership that we signed with Torsa in June 2005. This initiative gave us a foothold in the marketplace and led to significant initial sales.
“As a result, we are convinced that there is a substantial market opportunity for our innovative washing technologies, particularly in the sand and iron ore industries. India is a mineral-rich nation in which mining and processing companies are exceptionally keen on the experience, expertise and bespoke engineering services that we offer
The company, supported by Invest NI, has enhanced its product portfolio during the last 12 months, specifically for export markets and has benefited from a range of practical programmes in areas such as business improvement, training and marketing, including a series of Invest NI trade missions to India and the Arabian Gulf, as well as international exhibitions in Great Britain and Germany.
Mr Morrison, welcoming CDE Ireland’s success in India, said: “This is an immensely encouraging development for this ambitious company. Encouraging companies to harness the business potential of fast growing international markets is an Invest NI focus.
“The route to success in international markets for all Northern Ireland companies is to add value to their business by strategic investment in innovative products, such as the sand-washing system that CDE has developed, and on a greater engagement in markets outside Northern Ireland.
“This joint venture gives CDE a strong position in India and other parts of the Indian sub-continent, including Pakistan and Sri Lanka, regions rich in mineral resources such as coal and iron ore, where a huge investment in infrastructure development provides exciting opportunities for machinery required by the construction and mining industries,” he added.
Established in 1991, CDE Ireland currently employs 70 people in the bespoke design and manufacturing of machinery for sand and dust washing, recycling and for water treatment and filtration. It currently sells more than 80 per cent of its machinery outside Northern Ireland to customers in India, the Arabian Gulf, and Pakistan, as well as Great Britain and the Republic of Ireland.
The company has gained Northern Ireland Exporter success recognition for consecutive years in both 2004 and 2005 as recipients of Invest NI’s coveted Exporter of the year awards.
Torsa Machines has been trading since 1953 and has developed a portfolio of crushing and screening equipment which it markets throughout South East Asia.