Action Construction Equipment (ACE), a prominent Indian construction equipment manufacturer, is in discussions with Japanese crane maker KATO WORKS CO. to establish a joint venture (JV) based in India. This news comes as the Indian construction sector experiences significant growth.
The proposed JV aims to capitalize on this growth by manufacturing medium and large-sized cranes, including truck cranes, crawler cranes, and rough terrain cranes. These cranes cater to the specific needs of India’s infrastructure and building projects.
According to a statement released by ACE, the JV also has plans to leverage the technological expertise gained through the partnership. This will involve developing “value-added products” for export to other countries from India. This could position India as a potential crane manufacturing hub in the future.
The news has been met with positivity, with both ACE and KATO expressing confidence in the venture’s potential. ACE views the JV as a key pillar in their mid to long-term growth strategy.
While a formal contract is yet to be signed, both companies are working towards finalizing the terms of the agreement.This potential collaboration between a well-established Indian player and a global Japanese manufacturer has the potential to significantly impact the Indian crane market.
