Escorts Construction Equipment Ltd. Ties up with Singapore Technology Kinetics
ECEL to market the world renowned 'LeeBoy' brand of equipment for road construction and maintenance purposes, complementing its existing range
Escorts Construction Equipment Limited (ECEL), the Construction Equipment and Material Handling Equipment manufacturing arm of Escorts has inked a very significant agreement with Singapore Technology Kinetics (STK) - the owners of the US based 'LeeBoy' brand - to market 'LeeBoy' brand of equipment for road construction and maintenance purposes. The earmarked territories for marketing of the products by ECEL include some of the high growth geographical areas like India, Nepal, Srilanka and Bhutan. Singapore Technology Kinetics (STK) is part of the Temasek Group.
Amongst others, these equipments shall include Motor Graders, Hydrostatic Pavers and Pothole Patchers. These products are expected to complement ECEL's existing range of road compaction equipment and provide the much-needed one - stop shop for Road Construction & Maintenance equipment to the customers.
Given the planned growth and focus on infrastructure projects like Roads, this arrangement will provide a big fillip to ECEL's ongoing mega growth plans. ECEL's green-field world-class manufacturing facility in Ballabgarh, covering an area of 270,000 sq ft, spread over 15 acres land is expected to be on stream during the first half of 2008. This will help more than double the current manufacturing capacity in the initial phase, and to over 14,000 units annually, at the end of the second round of the planned expansion programme.
Mr. Rajan Nanda, Chairman of Escorts, commented: "ECEL has a highly ambitious growth plan over the next five years, with a slew of new product introductions, making forays into adjacent and familiar verticals. The tie up, much in align with our growth plans will complement our offerings and further consolidate our leadership position in the segment."
Mr. Nikhil Nanda, Joint Managing Director of Escorts, said on the tie up: "LeeBoy is one of the most preferred brands in the worldwide road construction industry due to its continued innovation and focus on meeting customer needs, the same ethos as of ECEL. The synergy in business philosophy of both the entities is sure to provide some highly exciting offerings for our customers in our territories, both domestic and overseas, in the coming days".
About ECEL: The company was incorporated in 1995 following a spin-off from its parent, Escorts Limited, where ECEL operated as a division manufacturing cranes. The pioneers and the largest manufacturers of the Pick-n-Carry Cranes worldwide and with over three decades of presence, ECEL is a dominant player in the Material Handling, Construction Equipment and Road Construction Equipment sectors. It manufactures a wide range of Pick-n-Carry Cranes, Slew Cranes, Loaders, Vibratory Soil Compactors and Tandem Vibratory Rollers. ECEL also markets & distributes world renowned brands in the product categories of Fork Lift Trucks, Articulated Boom Cranes, Tower and Crawler Cranes.