Success Clip Board - HMT Machine Tools Fast Forward
It was in the early post independence era that, HMT began in a small way to meet a big commitment;
'To manufacture mother machines to build modern industrial India'.
HMT was conceived by the Government of India in 1949, and was incorporated in 1953, with the objective of producing a limited range of machine tools, required for building an industrial edifice for the country.
With the success achieved in the initial years in absorbing the technology and in attaining production competence far ahead of the original plans, the Company launched a bold plan of diversification and expansion which resulted in the duplication of the Bangalore Unit and the setting up of new units at Pinjore, Kalamassery and Hyderabad.
In 1967, recession struck the Indian Engineering Industry and the consumption of machine tools dipped drastically. The traumatic years of recession did indeed serve to bring to the fore two latent strengths of HMT, namely, the urge to survive and the confidence to innovate. With these strengths at full play, the Company emerged from the recession:
The '70s witnessed the fructification of all the diversification plans as envisaged.
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In the '80s, HMT as a part of vertical integration efforts, launched units to manufacture
The New Millennium
Formation of HMT Machine Tools Limited as a wholly-owned subsidiary of HMT Limited.
Consolidation of Bangalore based manufacturing facilities
Merger of Praga Tools Limited, a subsidary of HMT Limited with HMT Machine Tools Limited
The strategic plans of the subsidiary is coordinated by the holding company HMT Limited.
To navigate through the challenges of the new millennium, HMT Machine Tools Limited seeks strategic alliances from global leaders to synergise its own strengths with symbiotic inputs from the partners.
For us, the whole world of opportunities is ahead to emerge as a global engineering conglomerate.