Setco, Spanish firm Lingotes venture.

Setco Automotive and Lingotes Especiales S.A. of Spain recently announced the formation of a joint venture which will invest 30 million Euro. The venture, called Lava Cast Pvt. Ltd., will have equity participation by both companies. As part of this agreement, Lingotes Especiales will come on board of Lava Cast as the technology partner. The proposed foundry will start commercial production in a year.

HBL