Zoomlion is to start manufacturing tower cranes in India via a strategic alliance with India’s largest industrial crane manufacturer ElectroMech.
The Pune-base ElectroMech designs, sells and manufactures a range of cranes. It also currently sells Germany’s ABUS cranes into India.
Zoomlion recently acquired Italian concrete machinery specialist CIFA, and Zhan Chunxin, CEO, Zoomlion explained that the new deal was part of the company’s strategy to expand from within its target markets.
“Chinese enterprises must accomplish localisation first in order to go global, the more localised we are, the more globalised we become,” Zhan Chunxin, CEO, Zoomlion said.
Tushar Mehendale, managing director, ElectroMech said the company was extremely excited to partner with Zoomlion. According to Mehendal the strategic alliance combines the advanced technology and manufacturing expertise of Zoomlion with ElectroMech’s strong base in India and its strengths in sales and service.
“Over the past few years, India has consistently ranked amongst the world’s fastest-growing economies having an average annual GDP growth rate in excess of 8%. India is on the cusp of increased infrastructural spending and the recent 5 year plan envisages a spend in excess of USD 1 Trillion,” Mehendale said. “The strategic alliance aims to tap this infrastructural boom. The market for tower cranes is now on the verge of witnessing explosive growth and is expected to grow at 20% -25% annually. So we feel very confident about our future.”