Indian manufacturer Hercules Hoist is looking to grow its exports to the Middle East, chairman Shekhar Bajaj has revealed.
Bajaj told the Hercules Hoists company AGM that the manufacturer of chain pulley blocks, electric hoists and wire rope hoists is looking to increase its presence in the overhead crane segment.
Bajaj said modernisation of its current plant facilities will enable it to ‘venture aggressively’ into export markets, including US and Africa as well as the Middle East.
Hercules Hoists, which recorded sales of $217 million in 2010, has been increasing production at its modern plant in Western India, and Bajaj said that it is planning on moving from hoist production into India’s ‘large’ crane market, adding it is exploring options for manufacturing partners.