Delhi: Terex Vectra Equipment yesterday announced
the launch of its Indian operations and said that it has
made an initial investment of $12 million (around Rs 53.4
crore) for this.
Vectra Equipment, a 50:50 joint venture between US-based
Terex Corporation and Vectra of the UK has set up a facility
in Greater Noida near Delhi to make a range of construction
equipment, Ronald M. DeFeo, chairman and ceo of Terex
Corporation said at a press conference.
are targeting to have a 10 per cent market share in the
first two years of operations in India. The Indian market
holds tremendous potential with a fast growing economy
and increased infrastructure development. In fact, we
have pinpointed India along with China and Russia as countries
which hold the biggest growth opportunities," he
begin with the company would make vibratory loaders and
skid steer while two more products - vibratory compactors
and midi excavators - will be available by the year-end.
The backhoe loader market is estimated at 5,000 units