Engineering Conglomerate Escorts Ltd and Japan’s Tadano Group –world’s leading Japan’s biggest mobile crane manufacturer -have announced their joint venture (JV) to manufacture rough terrain cranes and truck mounted cranes. The JV 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 Tadanoto 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 JV 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., said, “The new JV with Tadano Group is a step towards catering to market demand for smarter, safer and bigger mechanised infrastructure solutions in the higher tonnage category.”
The agreement on the joint venture was signed by Nikhil Nanda, Chairman and Managing Director, Escorts Limited and Koichi Tadano, President and CEO, Tadano Ltd., Japan.
Production 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.