New Delhi, August 27, 2018
Tadano Group, Japan’s biggest and world’s leading mobile crane manufacturer, has formed a joint venture with Escorts Ltd, India’s leading engineering conglomerate, to manufacture rough terrain cranes and truck mounted cranes. The joint venture will strengthen Escorts technology leadership and market presence in the material handling equipment space.
The JV will leverage the cost effective frugal Indian engineering excellence of Escorts and world leading Japanese technology from Tadano to cater to an expanding market for heavier capacity and efficient truck & RT cranes and sophisticated truck mounted and rough terrain cranes in the 20 to 80 tonnage category. The 51:49 joint venture between Tadano and Escorts respectively will enable both partners to optimise their current and future capabilities in the segment globally. The JV will aim to take leading position in the high tonnage crane segment in medium to long term.
Nikhil Nanda, Chairman and Managing Director, Escorts Ltd, commented, “Escorts vision has always been to bring the world’s best to India and take India’s best to the world. The new joint venture with Tadano Group is a step towards catering to market demand for smarter, safer and bigger mechanised infrastructure solutions in the higher tonnage category. We are confident that the joint venture will enable us to tap the opportunity market segments and reinforce our leadership in construction equipment space.”
Production by the joint venture is expected to commence at Faridabad in the third quarter of this financial year itself. The product offering will find a ready market with big construction companies servicing oil refineries, metro rail projects, smart city construction, solar power projects and alike.
Koichi Tadano, President and CEO, Tadano Ltd, said, “We are pleased to announce our partnership with Escorts group. Escorts has a strong technology legacy and diversified portfolio in construction equipment market and Tadano has a proven global technology and together we will cater to India and other growing economies which require safe, efficient & quality products and smarter construction technology.”
Escorts Limited is among India's leading engineering conglomerates, operating in the high-growth sectors of agri machinery, material handling, construction equipment and railway equipment.