22.08.2012

Zoomlion confirms Indian JV

Chinese crane manufacturer Zoomlion has confirmed and established the joint venture partnership with India’s largest industrial crane manufacturer ElectroMech, to manufacture and distribute tower cranes in India.

See Zoomlion seeks Indian partnership

The joint venture, 70 percent of which will be held by Zoomlion and 30 percent by ElectroMech, will manufacture and distribute tower cranes, which is likely to include the flat top tower crane designs recently acquired from German based Jost, as well as models from its hammerhead and luffing jib range.

Tushar Mehendale, managing director of ElectroMech, said: “It is a fine time for Chinese machinery producers to invest in India's heavy machinery industry, as India has planned to invest $1 trillion on infrastructure construction in the next five years.”

He Wenjin, vice president of Changsha Zoomlion Heavy Industry, added: “The joint venture will be Zoomlion’s first directly invested overseas plant. We have a long-term strategy in the Indian market and plan to invest $100 million to bolster its business development in the coming years. We will also continue to look for overseas merger and acquisition opportunities in the future.”

ElectroMech is based in Pune and claims to be India’s largest manufacturer of overhead cranes for the industrial market, it also produces a wide range of other industrial lifting products, including fixed and rubber tyre gantry cranes. It already has relationships with German manufacturers Abus and Stahl Crane systems and has worked with Cargotec on some of its product lines.
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