Chinese crane and construction equipment manufacturer Zoomlion and Indian industrial crane manufacturer ElectroMech have announced an alliance to manufacture and sell tower cranes in India. Chinese enterprises must accomplish localisation first in order to go global, the more localised Zoomlion is, the more globalised it becomes. Sales at Zoomlion exceeded US$ 8 billion in 2010. This strategic alliance aims to combine the advanced technology and manufacturing expertise of Zoomlion with ElectroMech's strong base in India and its strengths in sales and service to provide top class Zoomlion tower cranes to the Indian market.
India is on the cusp of increased infrastructural spending and the recent five year plan envisages a spend in excess of US$ 1 trillion. Tower cranes have a huge potential in India as they find applications at various real estate and construction project sites all across the country. The market for tower cranes is now on the verge of witnessing explosive growth and is expected to grow at 20% to 25% annually. |
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