Indo-MIM, an Indian metal parts supplier specializing in metal injection molding (MIM) and additive manufacturing (AM), has acquired UK MIM firm CMG Technologies. Based in Woodbridge in southeastern England, CMG Technologies offers a wide range of services and technologies including AM, in addition to its core MIM operations.
According to the companies, under its new ownership, CMG will operate more or less the same as it did previously. Moreover, according to the press release announcing the acquisition, “[CMG is] expected to grow substantially thanks to the resources that Indo-MIM will provide.” Both Indo-MIM and CMG seem to have extensive experience in manufacturing fiber optic components.
Founded in 1996, Indo-MIM claims to have “the world’s largest installed capacity for metal injection molding,” which entails over a million square feet of manufacturing space across three different facilities in Bangalore (or Bengaluru), India. The company’s AM expertise lies mostly in powder bed fusion (PBF) and metal binder jetting (MBJ) platforms, with the latter bolstered by a strategic partnership with Desktop Metal.
Situated in South-Central India, Bangalore could potentially become a significant node in the Indian smart manufacturing ecosystem, given the fact that it is about two hundred miles closer to Ahmedabad than is Chennai — “India’s Silicon Valley” — and the latter two areas seem to be in the vicinities of where the most Indian AM activity is thus far taking place. Partially produced goods could be driven to Bangalore from Ahmedabad, finished in Bangalore, then flown to Chennai, etc.
Perhaps following that logic, about a year ago, an AM center was opened at Bengaluru Airport City, an ambitious retail district being built near Kempegowda International Airport Bengaluru (BLR) — one of the world’s fastest growing airports. This can be thought of as a project along the same lines as the industrial park Neighborhood 91 in Pittsburgh, located on the property of the Pittsburgh International Airport, but on a larger scale.
Whether or not Indo-MIM is involved in the Bengaluru Airport City project, the company and the retail district would certainly benefit from the natural potential for synergy. In any case, the proximity of Indo-MIM to BLR may be a key factor in aiding the company’s further push in its European expansion strategy, which it notes that the CMG Technologies acquisition is a vital part of. Indo-MIM itself was founded as a 50-50 joint venture between Texas defense and space manufacturer AF Technologies and Indian engineer Krishna Chivulka, so the company’s roots are inherently global.
Finally, it is interesting to see an Indian company expanding into the West, since the reverse tends to be the norm. However, it’s possible that this becomes more and more common the more that Western firms look to diversify out of China, as this means that eventually, such companies will ultimately have to diversify out of Southeast Asia, as well. Maybe it is worth reiterating in this respect that Indo-MIM had a fairly early strategic relationship with Desktop Metal, considering the seemingly tenuous nature of the latter’s merger with Stratasys. Whatever happens after this, Indo-MIM’s acquisition of CMG Technologies is one of many accumulating signs lately that all the talk from Western nations about moving more rapidly into the Indian market appears to be translating into action.
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