15.09.2022

Tadano Escorts JV to end

Tadano and Escorts Kubota have agreed in principle to end the joint venture - Tadano Escorts India Pvt. Ltd that they set up in 2018. See: Tadano and Escorts agree JV and Tadano India becomes Tadano Escorts India.
Tadano is to acquire Escorts 49 percent stake and convert the joint venture into a wholly owned Tadano subsidiary.

Tadano said: “Tadano Escorts India was established in order to develop and produce lifting equipment products directed at the Indian market. However, due to coronavirus pandemic impacts leading to delays in product development, as well as changes in the market and competitive environment during that time, the decision has been made to discontinue the development and production of Indian market directed products.”

“Tadano Escorts India will continue to supply and service the Tadano group’s products in India, where Tadano continues to place high value on the business and lifting solutions of our customers.”