Mumbai, Feb 11 (PTI) Domestic contract manufacturer Aequs on Tuesday said it will be investing Rs 80 crore to set up a cookware products-making facility in Karnataka along with Brazilian firm Tramontina.

The two entities have formed a 50:50 joint venture to produce cookware and other consumer products for customers in India and abroad, according to a statement.

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The manufacturing facility will be located at the Hubballi Durable Goods Cluster (HDC) and the only manufacturing facility outside of the Americas for Tramontina, it said.

The JV partners aim to benefit from the 400-acre consumer ecosystem at the HDC, which provides a comprehensive, one-stop manufacturing infrastructure.

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The Brazil-based firm entered India last year with an omnichannel retail strategy that seeks to leverage general commerce, modern retail, and e-commerce platforms for a wide distribution of its products in the country.

Tramontina has been operational for over a century, Aequs' chairman and chief executive officer Aravind Melligeri said, adding that the growing global demand for premium cookware presents a tremendous opportunity.

Eduardo Scomazzon, chairman of Tramontina, said the Hubballi unit will allow the company to serve the global market with high-quality products under highly competitive conditions, along with catering to the local demand.

At present, Tramontina's 22,000 kitchenware and household products are available in 120 countries.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)