Bangalore , January 20, 2007: Uday Computer Aided Manufacturing. Pvt Ltd, (UCAM) the Bangalore-based leading manufacturer of high precision mechatronics subsystems for CNC Machine Tools and Rosa Ermando, SpA, Italy, the world leader in Surface Grinding technology has entered into a joint venture agreement to manufacture and market state-of-the-art Precision Surface Grinding machines.

While initially the machines would be manufactured at UCAM's existing facility, the joint venture partners propose to set up a dedicated green field facility near Bangalore for Rosa Ucam Grindtech Pvt Ltd, the joint venture entity. The new facility is to be set up with a significant investment for plant and machinery and would be equipped to manufacture around 150 machines annually.  While UCAM's stake in the joint venture would be 51%, the balance 49 % would be with Rosa Ermando. The joint venture agreement envisages buy back arrangements and direct export to South East Asia and South Africa.

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