Escorts has announced its joint venture with Tadano Group to manufacture rough terrain cranes and truck mounted cranes.
Escorts is India’s third largest tractor manufacturer, while Tadano Group is Japan’s biggest and world’s leading mobile crane manufacturer.
The 51:49 joint venture between Tadano and Escorts will be called Tadano Escorts will initially invest Rs 60 crore and expand with volume growth.
Bharat Madan, group chief financial officer at Escorts, was quoted as saying by Financial Chronicle: “The joint venture will initially invest Rs 60 crore at the leased manufacturing facility at Faridabad and set up a new factory once volumes grow.”
Tadano has been selling its products made in Japan and Germany in India since 2012. The joint venture will strengthen Escorts technology leadership and market presence in the material handling equipment space.
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