(Free Press Release) Zoomlion, one of the worldâ€˜s leading construction machinery manufacturer announced its plans to establish a strategic alliance with Indiaâ€˜s largest industrial crane manufacturer ElectroMech, to manufacture and sell tower cranes in India. This announcement was made today at EXCON, the largest construction equipment and technology exhibition of South Asia. This latest alliance is in line with Zoomlionâ€˜s globalization plans and comes soon after its acquisition of CIFA, Italy and the topless tower crane technology of JOST, Germany.
China headquartered Zoomlion is one of worldâ€˜s leading construction machinery manufacturer with a wide range of construction equipment in its manufacturing program. Zoomlion has maintained an average compounded annual growth rate of over 60% since its establishment in year 1992 and now designs and manufactures products across 13 different categories and 66 different series comprising over 640 different varieties of products. With annual sales exceeding USD 8 Bn in 2010, Zoomlion was ranked eighth amongst the Global Top 10 Construction Machinery Manufacturers. Zoomlion is listed on the Shenzhen & Hong Kong stock markets.
Tower Crane is one of the most important product in Zoomlionâ€˜s portfolio. Zoomlion achieved leadership position in the Chinese Tower Crane market very early on the back of its technical and manufacturing strengths. In June 2011, Zoomlion acquired the worldâ€˜s most advanced Topless Tower Crane technology from JOST. With this, Zoomlion marked its entry into the global high-end tower crane market and made the transition from a leading Chinese enterprise into an advanced international enterprise. Currently, Zoomlion is one of the few Tower Crane manufacturers in the world that offer such a varied product spectrum. Zoomlion currently manufactures three different series of tower cranes - hammer-head, luffing-jib and topless tower cranes, spread over 40 different models ranging from as low as 63 tm to as high as 5200 tm. Zoomlion also holds the distinction of developing, in 2010, the worldâ€˜s largest horizontal jib, top slewing, self-raising tower crane D5200 having a capacity of 5200 tm.
Pune, India headquartered ElectroMech, is Indiaâ€˜s largest manufacturer of industrial overhead cranes in terms of volumes. ElectroMech specializes in designing, selling, manufacturing, erecting and commissioning of a diverse range of products in the industrial cranes product spectrum. Apart from offering fully customized cranes, ElectroMech also offers a range of standardized products to the Indian market through its association with ABUS, Germany. ElectroMech has its main manufacturing facility in Pune and has offices all across India as well as Middle East. Through its services subsidiary, Cranedge, ElectroMech also offers a wide range of post sales services to the industry involving Annual Maintenance Contracts, Modernizations and Spare Parts support. ElectroMech counts amongst its clienteles all leading infrastructure construction companies in India.
Ã¢â‚¬Å“Chinese enterprises must accomplish localization first in order to go global, the more localized we are, the more globalized we become,Ã¢â‚¬ Mr Zhan Chunxin, Chairman and CEO of Zoomlion said.
The aim of this strategic alliance is for Zoomlion and ElectroMech to work together in order to effectively and successfully address the opportunities presented by the Indian market. Zoomlion & ElectroMech have high expectations from this strategic alliance and both are looking forward to replicating Zoomlionâ€˜s global success in the Indian market.
Commenting on the cooperation with Zoomlion, Mr. Tushar Mehendale, Managing Director, ElectroMech said, Ã¢â‚¬Å“We are extremely excited to partner with a global leader like Zoomlion. With this collaboration, we look at strengthening our market position by extending our product portfolio to offer total solutions to our customers.Ã¢â‚¬ Speaking about tower cranes market in India, Mr. Mehendale said, Ã¢â‚¬Å“Over the past few years, India has consistently ranked amongst the worldâ€˜s fastest-growing economies having an average annual GDP growth rate in excess of 8%. India is on the cusp of increased infrastructural spending and the recent 5 year plan envisages a spend in excess of USD 1 Trillion. The strategic alliance between Zoomlion and ElectroMech aims to tap this infrastructural boom. Tower cranes have a huge potential in India as they find applications at various real estate & 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% -25% annually. So we feel very confident about our future."
Mr. Mehendale added Ã¢â‚¬Å“This strategic alliance aims to combine the advanced technology and manufacturing expertise of Zoomlion with ElectroMechâ€˜s strong base in India and its strengths in sales and service to provide top class Zoomlion tower cranes to the Indian market.Ã¢â‚¬
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