Indian Joint Venture

11 August 2008

Foundry Machinery & Spares Ltd joins Wesman Engineering to supply the Indian foundry Industry

Foundry Machinery & Spares Limited one of the UK's leading foundry equipment suppliers are pleased to announce a joint venture with Wesman Engineering Company Private Limited based in India, the joint venture will allow the extensive range of No Bake and Chemically bonded sand equipment currently manufactured by Foundry Machinery & Spares Limited, to be manufactured under license by Wesman Engineering Company Private Limited in India. This will allow a cost effective option for the Indian foundry market and neighbouring countries to the normal import procedure currently offered by other suppliers. Wesman Engineering will manufacture all products under license with the total support from Foundry Machinery & Spares Limited in relationship to any technical information or bespoke turnkey projects.

The Joint venture was finalised at Foundry Machinery & Spares works in Bloxwich (England) on May 29th 2008 between Mr Rajan Vaswani of Wesman Engineering Company Private Limited and Mr Craig Perkins of Foundry Machinery & Spares Limited

Wesman Engineering Company Private Ltd was founded in 1951. In over five decades of growth and service to the core industries, it is acknowledged as India's leading company in its areas of business relating to Industrial Furnaces, Foundry Equipment and Combustion Equipment. As it was growing, the flagship company "The Wesman Engineering Company Private Limited" promoted a number of companies and has currently eight companies in the Group covering joint ventures and collaborations with various leading companies in Germany, UK, USA, and Mexico. The Group currently employs nearly 600 people.

Wesman's global outlook, market reputation, infrastructural facilities and organizational strengths in management, design, manufacturing, and after sales service have led to highly successful joint ventures and collaborations with leading international equipment manufactures in related fields to bring cutting-edge technologies to its customers.

Wesman's Machine Building Plant is located on a 10,000 square meter site near Kolkata's international airport and manufactures the full range of industrial furnaces, foundry machinery, oil/gas burners, control valves, industrial fans and blowers. For full details on Wesman's production programme, please visit www.wesman.com.

With extensive investments in its corporate email system, ERP systems, CAD design office, computerized engineering applications, countrywide data links to its regional offices in Delhi, Mumbai, Chennai, Bangalore, Pune, Ahmedabad and Hyderabad, Wesman is wired to the future of doing business in the electronic global environment. Wesman also offers industrial automation and control solutions to supplement its existing product lines and has also branched into offshore engineering support services.

Wesman Group Corporate and head office

Wesman Center

8 Mayfair Road

Kolkata 700 019

India

Tel: +91 (33) 40020300

Fax: +91 (33) 22908050, 2281640

Email: aniruddha.ghosh@wesman.com

Website:www.wesman.com