Tadano : to Establish Joint Venture to Manufacture and Sell Cranes in India
August 27, 2018 at 02:42 am EDT
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August 27, 2018
Tadano Ltd. (hereinafter 'Tadano' or the 'Company') is pleased to announce the establishment of a Joint Venture (JV) with Escorts Limited (hereinafter 'Escorts Ltd.'), a local crane manufacturer in India, in order to increase sales within the Indian market and to enhance the competitiveness of the Tadano Group.
1. Circumstances Surrounding the Joint Venture
Tadano has set a long-term goal of becoming No.1 worldwide in the lifting equipment industry and has been making efforts to further expand its business operations and share overseas. In 2012 Tadano established Tadano India Pvt. Ltd. with the aim of selling Tadano-made products and providing services for them in the Indian market. Through Tadano India Pvt. Ltd. Tadano conducts sales and services of mobile cranes in the region.
Tadano has agreed to the establishment of a JV with Escorts Ltd., a prominent Indian manufacturer of agricultural machinery and construction equipment, in order to further expand Tadano operations within the growing market of India and to advance the Company as a whole. Through this, Tadano aims to not only increase the sales of Tadano products but also to enhance our competitiveness by designing and manufacturing products locally.
2. Overview of Joint Venture
Establishment
To be registered during September 2018.
Operations to begin in November 2018.
Location
Faridabad, Haryana, India
Capital
600 million Indian Rupees
(Investment ratio: Tadano = 51%, Escorts Ltd. = 49%)
Business Areas
Sales, manufacturing and R&D of mobile cranes
Sales Projection
1,215 million Indian Rupees in 2023 (Estimated)
Notes:
1. Overview of Escorts Ltd.
1) Company Name: Escorts Ltd.
2) Location: 15/5 Mathura Road, Faridabad, Haryana, India
3) Business Areas: Agricultural machinery, construction equipment, sales & after service
4) Representative: Nikhil Nanda, Chairman & Managing Director of Escorts Limited.
5) Number of employees: 3,729
6) Sales: 50 billion and 8 hundred million Indian Rupees in 2017
2. Photo of an Escorts Ltd. product (rough terrain crane)
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Disclaimer
Tadano Ltd. published this content on 27 August 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 27 August 2018 06:41:03 UTC
TADANO LTD. is a Japan-based company mainly engaged in the manufacture and sale of construction machinery. The Company operates in three geological segments, including Japan segment, Europe segment and the Americas segment. The Company manufactures and sells construction cranes, which include all-terrain cranes, rough terrain cranes, truck cranes, road-rail vehicles and telescopic boom crawler cranes; vehicle-based cranes, which include cargo cranes, vehicle-hauling cranes, road-rail vehicles and others, as well as aerial vehicles, which include aerial vehicles, hole-digging construction vehicles, elevated highway and bridge checking vehicles, illuminating vehicles, road-rail vehicles and others. In addition, the Company also provides machinery parts, secondhand cars and lifters, etc.
TADANO LTD. 
