Air conditioner maker Voltas today said it has signed an agreement with Germany based Kion Group to establish a joint venture in India for developing and servicing industrial trucks and warehousing equipments.

Voltas in a statement said that the new firm will be named Voltas Materials Handling and is expected to start operations from April 2011.

Mr Sanjay Johri MD of Voltas Ltd said that "Kion has know how and technological leadership in the forklift truck business, so the partnership will help VMH further consolidate its leading position in India.”

The TATA group firm said the joint venture will focus on the Indian market with a product range that includes diesel/LPG and electric trucks with load capacities of 1.5 to 16 tonnes.

(Sourced from PTI)