Towers in India from Zoomlion and Electromech
24 November 2011
Zoomlion and Electromech have announced an alliance to manufacture and sell tower cranes in India.
Chinese crane and construction equipment manufacturer Zoomlion and Indian industrial crane manufacturer ElectroMech made the announcement at the Excon construction equipment exhibition in Bangalore 23 - 27 November 2011.
Commenting on the agreement, Zhan Chunxin, Zoomlion chairman and CEO, said, "Chinese enterprises must accomplish localisation first in order to go global, the more localised we are, the more globalised we become." Sales at Zoomlion exceeded US$ 8 billion in 2010.
Tushar Mehendale, ElectroMech managing director, said, "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."
Mehendale continued, saying that India is on the cusp of increased infrastructural spending and that the recent five year plan envisages a spend in excess of US$ 1 trillion. "Tower cranes have a huge potential in India as they find applications at various real estate and construction project sites all across the country. The market for tower cranes is now on the verge of witnessing explosive growth and is expected to grow at 20% to 25% annually. So we feel very confident about our future."
