Bangalore, Nov, 23 (EPC News): In line with its globalization plans, China based Zoomlion announced its plans to establish a strategic alliance with India`s largest industrial crane manufacturer ElectroMech, to manufacture and sell tower cranes in India. This announcement was made today at EXCON, the largest construction equipment and technology exhibition of South Asia. This latest alliance comes soon after its acquisition of CIFA, Italy and the topless tower crane technology of JOST, Germany. 

``Chinese enterprises must accomplish localization first in order to go global, the more localized we are, the more globalized we become,`` Zhan Chunxin, Chairman and CEO of Zoomlion said.

The aim of this strategic alliance is for Zoomlion and ElectroMech to work together in order to effectively and successfully address the opportunities presented by the Indian market. This strategic alliance aims to combine the advanced technology and manufacturing expertise of Zoomlion with ElectroMech’s strong base in India and its strengths in sales and service to provide top class Zoomlion tower cranes to the Indian market.

Commenting on the cooperation with Zoomlion, Tushar Mehendale, Managing Director, ElectroMech said, ``We are extremely excited to partner with a global leader like Zoomlion. With this collaboration, we look at strengthening our market position by extending our product portfolio to offer total solutions to our customers.``

``Over the past few years, India has consistently ranked amongst the world`s fastest-growing economies having an average annual GDP growth rate in excess of 8%. India is on the cusp of increased infrastructural spending and the recent 5 year plan envisages spend in excess of US $1 trillion. The strategic alliance between Zoomlion and ElectroMech aims to tap this infrastructural boom,`` Mehendale added.

Bangalore, Nov, 23 (EPC News): Infrastructure and construction equipment finance major, Srei BNP Paribas is eyeing whopping Rs600 crore revenue at EXCON 2011, the largest construction equipment exhibition in the country. The company has also introduced unique solution `Tension Mat Lo!` at the exhibition.

Commenting on the occasion, D K Vyas, Chief Executive Officer, Srei BNP Paribas, said, ``As the principal sponsor, we are proud to be associated with yet another edition of Excon. Innovation has been our hallmark and a key growth driver and at Excon, we are launching ‘Tension Mat Lo!’ Keeping in mind, the problems a customer faces while trying to get finance, through Tension Mat Lo! Srei BNP Paribas assures its customers to leave their tensions behind and enjoy the hassle free world of Srei.``

The 8,500 sq feet outdoor pavilion has been designed to represent an Infrastructure Mart, wherein the customers are assured of a world of ‘tension free financing’ solutions as and when they require it in the infrastructure space. The five day expo will witness company`s innovative offerings like Asset Power, Money Power, Don’t Worry Finance and Khel Interest Ka. A customer would be entitled to enjoy a pre-approved credit limit and may get 100% financing of the equipment at attractive terms.

``To ensure that our customers across India can get a feel of Excon, we are organizing customer engagement programmes at all our 82 offices across India with live webcasts and streaming where we hope to do substantial business. We have already disbursed over Rs6,611 crore in the first half of this fiscal and are expecting a target disbursement of Rs14,000 crore for FY12.``

Mumbai, August, 1 (EPC News): Sales of Chinese construction equipments shoots up by 2,711% since 2002, reveals the annual list of KHL. The recently published Yellow Book, unveils Caterpilllar, Komatsu and Hitachi as the top three companies still but lower down the list Chinese manufacturers such as Sany and Zoomlion, who attained an impressive progress. KHL also revealed that from 2002 to 2008 sales of Chinese equipment increased from $841 million to $22.8 billion, as increase of 2,711%. The list involved 50 biggest construction equipment manufacturers, who has made a impact on global sales record.

EPC News Bureau

Mumbai, August, 1 (EPC News): Haryana-based material handling and construction equipment manufacturer Action Construction Equipment (ACE) expanding its product portfolio will be acquiring two companies for a total Rs120 crore. Of the two companies, one is from India and the other is from China. The company is planning a qualified institutional placement of up to Rs 30 crore by the end of October to part finance the acquisitions. The Chinese acquisition would give it a better technology to produce on of its existing products at a lower cost while the local company will help it enter a new product line.

EPC News Bureau

Mumbai, June, 21 (EPC News): Manitowoc entered into a partnership with a major Russian distributor in construction equipment. The partnership focuses on the sales of Grove mobile cranes and services in Russia. Apart from the consultation and sales, UST and Global Cranes aims to provide full Manitowoc Crane Care customer support.
EPC News Bureau

Faridabad, May, 24 (EPC News): Faridabad-based Nano Cranes Pvt. Ltd. (NCPL) plans to sell over 600 units of its Vector crane. The company has adopted its recent move by eyeing the developments attained by small and medium enterprises (SME) industries in India.

“Costs for the available cranes in the market ranges from Rs8-9 lakhs which are not viable for SMEs. Hence our product will focus on serving the needs of SMEs,” opined Rahul Marwaha, managing director of NCPL.

The company as a part of its manufacturing facility expansion plans in Faridabad, has already invested around Rs25 crore in its unit recently.

EPC News Bureau

Mumbai, May, 24 (EPC News): Kohlberg Kravis Roberts & Co. L.P. (together with its affiliates, "KKR") and International Finance Corporation ("IFC") is expected to shed an investment of Rs4,400 million in Magma Fincorp Ltd. The capital infusion will be used to support Magma's growth plans in existing businesses in addition to newer areas.

“ Maintining an aggressive growth pattern, we expect to increase our disbursements by 50% in FY12, and reducing our dependency on securitization thereby maintaining a healthy NIM via greater contribution from higher yielding products. This transaction is not just about capital but the foundation of a lasting partnership. " said Sanjay Chamria, Vice Chairman & Managing Director of Magma.

EPC News Bureau

Mumbai, May, 18 (EPC News): Hyundai Elevator Company Ltd by joining hands with Movement Technologies Ltd will soon launch Double-decker elevators. The elevators are estimated to cover 600 meters (1,968.5 feet) per minute. Managing Director, Mr. Manish Motwani informed, “A double-decker elevator appears like two elevator cars attached to each other. The elevator will visit two floors at the same time, raising the passenger capacity of the shaft.”

EPC News Bureau