Rieter-LMW Machinery Limited (RLM) was founded as a 50:50 joint venture between Rieter Machine Works Limited(RIETER) and Lakshmi Machine Works Limited(LMW) in 1994. RLM is a 100% Export Oriented Unit for RIETER ring frame assemblies.

Due to the changes in the market conditions in India the partners have agreed to concentrate on their own strength. RIETER has also set up a manufacturing facility in Pune, Maharashtra for manufacturing and marketing of ring spinning frames for the Indian market.

RIETER has found a good solution for the JVC as LMW acquires all RIETER shares in the JVC and RIETER signed the contract for selling of its shares in its Indian Joint Venture Company RLM to LMW in Coimbatore on 1st April, 2011. On completion of legal and procedural formalities, RLM will become a wholly owned subsidiary of LMW. LMW will continue to utilize the facility for manufacture of Textile Spinning Machinery.