Escorts JV with Tadano Group for Higher Capacity Mobile Cranes. Escorts Ltd, India’s leading engineering conglomerate joint ventures with Tadano Group, Japan’s biggest and world’s leading mobile crane manufacturer, for rough terrain cranes and truck mounted cranes. 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.
This joint venture will strengthen Escorts technology leadership and market presence in the material handling equipment space. The JV will also 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 optimize 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 that 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 mechanized infrastructure solutions in the higher tonnage category. They are confident that the joint venture will enable them to tap the opportunity market segments and reinforce our leadership in construction equipment space.
Koichi Tadano, President and CEO, Tadano Ltd., Japan, said that they are pleased to announce their partnership with Escorts group as they has a strong technology legacy in construction equipment market.