Ammann takes full control of India JV
By Andy Brown26 June 2020
Switzerland-based Ammann Group Holding AG has fully acquired the stake of its partner in a joint venture in India.
With effect from June 19, 2020, Ammann India Private Limited (AIN) has become a 100% owned subsidiary of Ammann BauAusrüstung AG (ABA).
AIN’s origins date back to the establishment of the Ammann Apollo India joint venture in 2013. In the years that followed, the company developed its market position both in India and at an international level.
The company has an extensive range of products that include asphalt mixing plants, asphalt pavers, rollers and concrete mixing plants, and its exports to other countries are also increasing steadily.
AIN’s production facility is located at Ditasan (near Ahmedabad, Gujarat, India), and the company has 15 decentralised sales branches in India.
On 1 August 2020, Mr Ananthanarayan (Anand) Sundaresan will take over the management of AIN and will become a member of its Board of Directors. Since 1999 and until recently, he built and developed Schwing Stetter India after working for various companies in the local construction machinery sector.